Freddie Mac to sell $3.0 bln bills on Monday
NEW YORK, July 18 (Reuters) - Freddie Mac (FRE.N: Quote, Profile, Research, Stock Buzz) said on Friday it plans to sell $3.0 billion of reference bills on Monday.
The scheduled offerings are:
-- $1.0 billion of three-month bills due Oct. 20, 2008 to be sold Monday and settle Tuesday;
-- $1.0 billion of six-month bills due Jan. 20, 2009 to be sold Monday and settle Tuesday; and
-- $1.0 billion of 12-month bills due July 20, 2009 to be sold Monday and settle Tuesday; and
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)
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