Freddie Mac (FRE) said that it auctioned a $1 billion reopening of its 2.875% five-year USD Reference Notes security that matures on February 9, 2015.
The stop yield for the issue was 2.714%, priced at 100.748022, or about 28.5 Basis points more than five-year U.S. Treasury Notes. The bid-to-cover ratio was 3.86 to 1.
After the reopening, which was conducted via an Internet-based auction, the outstanding size of the 2.875% five-year Reference Notes security will be $5 billion, the company said.
The issue will settle on February 1, 2010, and is listed on the Euro MTF market of the Luxembourg Stock Exchange.
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