October 7, 2013 / 2:02 PM / 4 years ago

Freddie Mac sells $3.0 bln bills at mixed interest rates

Oct 7 (Reuters) - Freddie Mac, the No. 2 U.S. home funding company, on Monday said it sold $3.0 billion of reference bills at mixed rates and demand compared with the most recent sales of similar maturities and comparable amounts.

Freddie Mac sold $1.0 billion of three-month bills, due Jan. 6, 2014, at a 0.065 percent rate, up from the 0.035 percent rate for $1.0 billion three-month bills sold Sept. 30.

The company sold $1.0 billion of six-month bills, due April 7, 2014, at a 0.099 percent rate, also up from the 0.070 percent rate for $1.0 billion six-month bills auctioned a week ago.

Freddie Mac also sold $1.0 billion of 12-month bills at a 0.145 percent rate, down from the 0.155 percent rate for its $1.0 billion of 12-month bills sold on April 22.

Demand for the three-month bills was stronger, with a bid-to-cover ratio of 4.26, up from the 4.04 ratio for the three-month bills sold Sept. 30.

Demand for the six-month bills was also stronger at 3.52, up from the bid-to-cover ratio of 3.37 for the six-month bills sold last week.

Demand for the 12-month bills was weaker at 3.35, down from the 5.50 ratio for the 12-month bills auctioned on April 22.

A bid-to-cover ratio reflects the amount of bids compared with the amount offered. A higher ratio indicates stronger demand, while a lower ratio indicates weaker demand.

Settlement is Oct. 8.

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