Fannie Mae to sell $5 bln bills on Wednesday

NEW YORK, May 3 (BestGrowthStock) – Fannie Mae (FNM.N: ) (FNM.P: ), the
largest U.S. home funding company, said on Monday it plans to
sell $2 billion of three-month benchmark bills due Aug. 4,
2010, and $3 billion of six-month bills due Nov. 3, 2010, on
Wednesday, May 5 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 May 5-6.

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Fannie Mae to sell $5 bln bills on Wednesday