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Fannie Mae to sell $2 billion bills on Wednesday

Mon Oct 26, 2009 10:24am EDT

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NEW YORK, Oct 26 (Reuters) - Fannie Mae (FNM.N), the largest U.S. home funding company, said on Monday it plans to sell $1.0 billion of three-month benchmark bills due Jan. 27, 2010, and $1.0 billion of six-month bills due April 28, 2010 on Wednesday 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. (1300 GMT) until 9:45 a.m.

Settlement is Oct. 28-29. (Reporting by Caryn Trokie; Editing by James Dalgleish)

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