Freddie Mac to sell $2 billion in bills on Monday

Fri. October 03, 2008; Posted: 10:42 AM

NEW YORK NEW YORK, Oct 03, 2008 (Reuters via COMTEX) -- FRE | Quote | Chart | News | PowerRating -- Freddie Mac said Friday it plans to sell $2.0 billion of reference bills next week.

The scheduled offerings are:

-- $1.0 billion of three-month bills due Jan. 5, 2009 to be sold Monday and settle Tuesday; and

-- $1.0 billion of six-month bills due April 6, 2009 to be sold Monday and settle Tuesday.

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 from 8:00 a.m. (1200 GMT) until 9:45 a.m. (1345 GMT).

(Reporting by Caryn Trokie; Editing by Theodore d'Afflisio) Keywords: FREDDIEMAC BILLS/ANNOUNCEMENT Chuck Mikolajczak cm

Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.

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For full details on Freddie Mac (FRE) click here. Freddie Mac (FRE) has Short Term PowerRatings of 6. Details on Freddie Mac (FRE) Short Term PowerRatings is available at This Link.

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