November 19, 2008 / 3:20 PM / 11 years ago

Fannie Mae sells $2 bln bills at higher rates

NEW YORK, Nov 19 (Reuters) - Fannie Mae FNM.N FNM.P on Wednesday sold $2 billion in bills at higher interest rates compared with sales of the same maturities and size a week ago.

Fannie Mae said it sold $1 billion of three-month benchmark bills due Feb. 18, 2009 at a stop-out rate, or lowest accepted rate, of 1.000 percent and $1 billion of six-month bills due May 20, 2009 at a 1.750 percent stop-out rate.

The three-month bills were priced at 99.747 and have a money market yield of 1.003 percent, and the six-month bills were priced at 99.115 and have a money market yield of 1.766 percent, according to Fannie Mae.

On Nov. 12, Fannie Mae sold $1 billion of three-month bills at a 0.930 percent stop-out rate and $1 billion of six-month bills at a 1.490 percent stop-out rate.

Settlement for the new bills is Nov. 19-20. (Reporting by Pam Niimi; Editing by Theodore d’Afflisio)

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