Freddie Mac to sell $2 billion bills Sept 8
NEW YORK, Sept 5 (Reuters) - Freddie Mac (FRE.N: Quote, Profile, Research, Stock Buzz) said Friday it plans to sell $2 billion of reference bills on Sept. 8.
The scheduled offerings include $1 billion of three-month bills due Dec. 8, 2008 and $1 billion of six-month bills due March 9, 2009.
Settlement is Sept. 9.
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. EDT (1200 GMT) until 9:45 a.m. (1345 GMT).
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