July 2, 2012 / 2:23 PM / 5 years ago

Fannie Mae to sell $2 bln in bills on Thursday

July 2 (Reuters) - Fannie Mae, the largest U.S. home funding source, said on Monday it will sell $2.0 billion in bills on Thursday.

The sale has been postponed to Thursday from Wednesday due to the Fourth of July holiday on Wednesday.

The company will sell $1.0 billion of three-month bills due Oct. 3, 2012, and $1.0 billion of six-month bills due Jan. 2, 2013 via 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 a.m. EDT (1300 GMT) until 9:45 a.m. EDT (1345 GMT).

Settlement is July 5-6.

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