Fannie Mae, the largest U.S. home funding company, on Friday said it plans to sell $2 billion benchmark bills on Wednesday, Feb. 23.
The sale will include $1 billion of three-month benchmark bills due May 25, 2011, and $1 billion of six-month bills due Aug. 24, 2011.
Settlement is Feb. 23-24.
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).
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