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Freddie Mac sells its 2nd-largest tax-exempt bond

Wed Sep 17, 2008 9:55am EDT

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NEW YORK, Sept 17 (Reuters) - Freddie Mac (FRE.N), the second-largest provider of funding for U.S. mortgages, on Wednesday said it securitized $548 million in bonds that finance affordable housing units.

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Collateral for the "tax-exempt bond securitization," or TEBS, is primarily tax-exempt and taxable multifamily housing revenue bonds, Freddie Mac said in a statement.

The deal is Freddie Mac's second-largest TEBS transaction, and was completed with Citigroup Inc. (C.N) unit Municipal Mortgage Holdings Inc.

(Reporting by Al Yoon)

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