Fannie Mae to Sell $5 Billion in Bills Wednesday

Published on:
19 February 2007 at 04:53 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00040402-fannie-mae-to-sell-5-billion-in-bills-wed/

According to Reuters, Fannie Mae, the largest U.S. home funding company, plans to sell $3.0 billion of three-month benchmark bills due May 23, 2007, and $2.0 billion of six-month bills due Aug. 22, 2007, 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. (1400 GMT), until 9:45 a.m. (1445 GMT).

Settlement is Feb. 21-22.