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Fannie Mae to sell $2bn bills
NEW YORK : Fannie Mae, the largest US home funding company, said on Monday it plans to sell $1 billion of three-month
NEW YORK: Fannie Mae, the largest US home funding company, said on Monday it plans to sell $1 billion of three-month benchmark bills due Dec. 28, 2011, and $1 billion of six-month bills due March 28, 2012, on Wednesday, Sept. 28, 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.
Copyright Reuters, 2011
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