Fannie Mae to sell $1.0 bln in bills on Wednesday

NEW YORK, Nov 29 (BestGrowthStock) – Fannie Mae (FNMA.OB: ), the
largest U.S. home funding company, said on Monday it plans to
sell $500 million of three-month benchmark bills due March 2,
2011, and $500 million of six-month bills due June 1, 2011, 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. until 9:45 a.m.

Settlement is Dec. 1-2.
(Reporting by Caryn Trokie, Editing by Chizu Nomiyama)

Fannie Mae to sell $1.0 bln in bills on Wednesday