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Fannie Mae to sell $2 billion bills on Dec 3

Mon Dec 1, 2008 10:26am EST

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NEW YORK, Dec 1 (Reuters) - Fannie Mae (FNM.P) said on Monday it plans to sell $1 billion of three-month benchmark bills due March 4, 2009, and $1 billion of six-month bills due June 3, 2009, on Dec. 3 in a Dutch auction.

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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. (1400 GMT), until 9:45 a.m. (1445 GMT).

Settlement is Dec 3-4. (U.S. Financial Markets Desk)

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