October 8, 2008 / 1:56 PM / 11 years ago

Fannie Mae sells $2 bln bills at lower interest rates

NEW YORK, Oct 8 (Reuters) - Fannie Mae FNM.N FNM.P on Wednesday sold $2 billion in bills at lower interest rates compared with sales of the same size and maturities a week ago.

Fannie Mae said it sold $1 billion of three-month benchmark bills due Jan. 7, 2009 at a stop-out rate, or lowest accepted rate, of 1.550 percent and $1 billion of six-month bills due April 8, 2009 at a 1.840 percent stop-out rate.

The three-month bills were priced at 99.608 and have a money market yield of 1.556 percent, and the six-month bills were priced at 99.070 and have a money market yield of 1.857 percent, according to Fannie Mae.

On Oct. 1, Fannie Mae sold $1 billion of three-month bills at a 2.350 percent stop-out rate and $1 billion of six-month bills at a 3.190 percent stop-out rate.

Settlement for the new bills is Oct. 8-9. (Reporting by Caryn Trokie; Editing by Tom Hals)

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