By Cristal Cody
Tupelo, Miss., June 26 – Freddie Mac priced a $500 million reopening of its 1.375% Reference Notes due May 1, 2020 at 99.575 to yield 1.528% on Monday, according to a news release.
The reopening was conducted via an internet-based auction. The bid-to-cover ratio on the deal was 2.91 to 1.
The total outstanding on the issue now is $3.5 billion.
Freddie Mac is a government-backed mortgage lender based in McLean, Va.
| Issuer: | Freddie Mac
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| Amount: | $500 million reopening
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| Description: | Reference Notes
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| Maturity: | May 1, 2020
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| Type: | Competitive
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| Coupon: | 1.375%
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| Price: | 99.575
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| Yield: | 1.528%
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| Trade date: | June 26
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| Settlement date: | June 27
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| Total outstanding: | $3.5 billion, including $3 billion previously outstanding
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