November 13, 2012 / 3:10 PM / in 5 years

Freddie Mac sells $3 bln bills; rates, demand are mixed

Nov 13 (Reuters) - Freddie Mac, the No. 2 U.S. home funding company, said on Tuesday it sold $3 billion of reference bills at mixed rates and mixed demand compared with last week’s sales of similar maturities.

Freddie Mac said it sold $1.5 billion of three-month bills, due Feb. 11, 2013, at a 0.128 percent rate, down from the 0.129 percent rate for $1.5 billion three-month bills sold Nov. 5.

The company also sold $1.5 billion of six-month bills, due May 13, 2013, at a 0.167 percent rate, up from the 0.165 percent rate for $1.5 billion six-month bills sold last week.

Demand for the three-month bills was lower, with a bid-to-cover ratio of 4.45 versus 4.79 for its sale of three-month bills sold a week ago, while demand for the six-month bills was stronger, at 4.37 compared with 4.33 for six-month bills sold Nov. 5.

A bid-to-cover ratio reflects the amount of bids compared with the amount offered. A lower ratio indicates weaker demand.

Settlement is Nov. 14

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