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Freddie Mac to sell $5.0 bln in bills next week

Fri Dec 21, 2007 10:40am EST

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NEW YORK, Dec 21 (Reuters) - Freddie Mac (FRE.N) said Friday it plans to sell $5.0 billion of reference bills next week.

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The scheduled offerings are:

-- $1.0 billion of one-month bills due Jan. 23, 2008 to be sold on Wednesday and settle Thursday

-- $3.0 billion of three-month bills due March 24, 2008 to be sold Monday and settle Wednesday; and

-- $1.0 billion of six-month bills due June 23, 2008 to be sold Monday and settle Wednesday.

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. (1445 GMT). (Reporting by Caryn Trokie)

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