Fannie Mae to sell $3 bln in bills on Wednesday

NEW YORK, May 28 (BestGrowthStock) – Fannie Mae (FNM.N: ) (FNM.N: ) ,
the largest U.S. home funding company, said on Friday it plans
to sell $2.0 billion of three-month benchmark bills due Sept.
1, 2010, and $1.0 billion of six-month bills due Dec. 1, 2010,
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 June 2-3.

Stock Market Basics

(Reporting by Caryn Trokie)

Fannie Mae to sell $3 bln in bills on Wednesday