Fannie Mae to sell $2 billion in bills on Wednesday
NEW YORK, Oct 6 (Reuters) - Fannie Mae (FNM.N: Quote, Profile, Research, Stock Buzz), the largest U.S. home funding company, said on Monday it plans to sell $1.0 billion of three-month benchmark bills due Jan. 7, 2009, and $1.0 billion of six-month bills due April 8, 2009, 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. (1300 GMT), until 9:45 a.m. (1345 GMT).
Settlement is Oct. 8-9. (Reporting by Caryn Trokie; Editing by James Dalgleish)
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