Fannie Mae sells $2 bln bills, rates fall from week ago
Wed Sep 10, 2008 10:01am EDT Email | Print | Share | Reprints | Single Page | Recommend (0) [-] Text [+]
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NEW YORK, Sept 10 (Reuters) - Fannie Mae (FNM.N: Quote, Profile, Research, Stock Buzz), in its first bill sale following its takeover by the U.S. government over the weekend, on Wednesday sold $2 billion in bills at lower interest rates compared with its most recent sales of the same maturities.
Fannie Mae said it sold $1 billion of three-month benchmark bills due Dec. 10, 2008 at a stop-out rate, or lowest accepted rate, of 2.180 percent and $1 billion of six-month bills due March 11, 2009 at a 2.408 percent stop-out rate.
The three-month bills were priced at 99.449 and have a money market yield of 2.192 percent, and the six-month bills were priced at 98.783 and have a money market yield of 2.438 percent, according to Fannie Mae.
On Sept. 3, Fannie Mae sold $1 billion of three-month bills at a 2.553 percent stop-out rate and $1 billion of six-month bills at a 2.858 percent stop-out rate.
Settlement for the new bills is Sept. 10-11. (Reporting by Rodrigo Campos, Editing by Chizu Nomiyama)