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Freddie Mac to sell $2 bln in bills on Monday

Fri Nov 6, 2009 10:29am EST

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NEW YORK, Nov 6 (Reuters) - Freddie Mac (FRE.N) said Friday it plans to sell $2.0 billion of reference bills on Monday.

The scheduled offerings are:

-- $1.0 billion of three-month bills due Feb. 8, 2010 to be sold Monday and settle Tuesday; and

-- $1.0 billion of six-month bills due May 10, 2010 to be sold Monday and settle Tuesday.

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 from 8:00 a.m. (1300 GMT) until 9:45 a.m. (Reporting by Caryn Trokie; Editing by James Dalgleish)



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