September 25, 2013 / 2:01 PM / in 4 years

Fannie Mae sells $500 mln bills at higher interest rates

Sept 25 (Reuters) - Fannie Mae, the largest U.S. home funding source, said on Wednesday it sold $500 million of benchmark bills at higher interest rates compared with last week’s sale of similar maturities.

Fannie Mae said it sold $250 million of three-month bills due Dec. 24, 2013 at a 0.025 percent stop-out rate, or lowest accepted rate, up from the 0.023 percent rate for $250 million of three-month bills sold Sept. 18.

The company sold $250 million of six-month bills due March 26, 2014 at a 0.063 percent rate, also up from the 0.059 percent rate for $250 million of six-month bills sold a week ago.

The three-month bills were priced at 99.994 with a money market yield of 0.025 percent. The six-month bills were priced at 99.968 with a money market yield of 0.063 percent.

Settlement is Sept. 25-26.

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