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Freddie Mac to sell $2 billion bills on Tuesday


    (Reuters) - Freddie Mac , the No. 2 U.S. home funding company, said on Tuesday it plans to sell $2 billion of bills later on Tuesday.

    The sale will include $1 billion of three-month bills due August 27, 2012, and $1 billion of six-month bills due November 26, 2012.

    The bills will be sold over the Internet 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 until 9:45 a.m. EDT (1345 GMT).

    Settlement is May 30.

    (Reporting by Pam Niimi Editing by W Simon)