June 17 Freddie Mac, the No. 2 U.S. home funding company, said it will sell $3.5 billion of reference bills on Monday.
Freddie Mac said it plans to sell $500 million of one-month bills due July 15, 2013, $1.5 billion of three-month bills due Sept. 16, 2013 and $1.5 billion six-month bills, due Dec 16, 2013.
The bills will be sold over the Internet in a Dutch auction. In such uniform price auctions, successful bidders pay only the price of the lowest accepted bid rather than the actual price as in a conventional multiple-price auction.
Bids will be accepted from authorized dealers until 9:45 a.m. EDT (1345 GMT).
Settlement is June 18.