February 25, 2013 / 1:45 PM / 5 years ago

Freddie Mac to sell $3.5 bln bills on Monday

Feb 25 (Reuters) - Freddie Mac, the No. 2 U.S. home funding company, said it will sell $3.5 billion reference bills on Monday. The sale consists of $500 million one-month bills due March 25, 2013, $1.5 billion of three-month bills due May 28, 2013, and $1.5 billion of six-month bills due Aug. 26, 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 Feb. 26.

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