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Fannie Mae to sell $4 bln in bills on Thursday

Mon Nov 9, 2009 11:09am EST

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NEW YORK, Nov 9 (Reuters) - Fannie Mae (FNM.N) (FNM.P) , the largest U.S. home funding company, said on Monday it plans to sell $2.0 billion of three-month benchmark bills due Feb. 10, 2010 and $2.0 billion of six-month bills due May 12, 2010, on Thursday in a Dutch auction.

The sale which usually occurs on Wednesday will be on Thursday due to the Veterans Day holiday.

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 from 9:00 a.m. until 9:45 a.m.

Settlement is Nov. 12-13. (Reporting by Caryn Trokie, Editing by Chizu Nomiyama)



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