FHLB to sell $1 bln 2-year notes in reopening Weds

NEW YORK, Oct 13 (BestGrowthStock) – The Federal Home Loan Bank
System said it plans to sell on Wednesday $1.0 billion of
two-year global notes in a reopening of an existing 0.875
percent issue.

The notes will mature on Aug. 22, 2012 and will be sold via
a Dutch auction, FHLB said in a press release. The reopening
will bring the total size of the issue to $4.0 billion.

In a Dutch auction, or uniform price auction, successful
bidders pay only the price of the lowest accepted bid rather
than the actual price as in a conventional multiple-price
auction.

Settlement is Oct. 14.
(Reporting by Caryn Trokie; Editing by James Dalgleish)

FHLB to sell $1 bln 2-year notes in reopening Weds