November 13, 2012 / 1:40 PM / in 5 years

Freddie Mac to sell $3 billion bills on Tuesday

Nov 13 (Reuters) - Freddie Mac, the No. 2 U.S. home funding company, said it will sell $3 billion reference bills on Tuesday.

The sale will consist of $1.5 billion of three-month bills, due Feb. 11, 2013, and $1.5 billion of six-month bills due May 13, 2013.

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 until 9:45 a.m. EST (1445 GMT).

Settlement is Nov. 14.

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