Fannie Mae to sell $3.0 bln bills on Wednesday

10-AUG-2009 15:13



NEW YORK, Aug 10 (Reuters) - Fannie Mae, the largest U.S. home funding company, said on Monday it plans to sell $1.5 billion of three-month benchmark bills due Nov. 12, 2009, and $1.5 billion of six-month bills due Feb. 10, 2010, on Wednesday 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 9:00 a.m. until 9:45 a.m.

Settlement is Aug. 12-13.

(Reporting by Caryn Trokie; editing by Jeffrey Benkoe) Keywords: FANNIEMAE BILLS/ANNOUCEMENT

(caryn.trokie@thomsonreuters.com ; + 1 646-223-6318; Reuters Messaging: caryn.trokie.reuters.com@reuters.net)

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