NEW YORK, Dec 29 (Reuters) - Fannie Mae (FNM.N: Quote, Profile , Research), the largest U.S. home funding company, said on Friday it plans to sell $3.0 billion of three-month benchmark bills due April 4, 2007, $1.5 billion of six-month bills due July 3, 2007, and $1.5 billion of one-year bills due Dec. 28, 2007 on Wednesday in a Dutch-style 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 Jan. 3-4. |
