By Jennifer Chiou
New York, July 15 - Freddie Mac reopened its issue of 1.75% notes due June 15, 2012, pricing $1 billion more of the notes at 99.942046, or about 24 basis points over Treasuries. The stop yield was 1.77%.
The bid-to-cover ratio was 3.275 to 1.
The original $6 billion priced at 99.676 to yield 1.859%, or 46.5 bps over the three-year Treasury note, and settled on May 21.
Interest is payable quarterly.
The bonds are non-callable.
The notes were offered via a syndicate of dealers led by Barclays Capital Inc., Banc of America Securities LLC and J.P. Morgan Securities Inc.
The issuer said it applied to list the issue on the euro MTF market of the Luxembourg Stock Exchange.
The recent issue will settle on Thursday.
| Issuer: | Freddie Mac
|
| Issue: | Notes
|
| Amount: | $7 billion (including $1 billion reopening)
|
| Maturity: | June 15, 2012
|
| Managers: | Barclays Capital Inc., Banc of America Securities LLC and J.P. Morgan Securities Inc.
|
| Coupon: | 1.75%
|
| Price: | 99.676 for $6 billion; 99.942046 for $1 billion
|
| Yield: | 1.859% for $6 billion; 1.77% for $1 billion
|
| Spread: | 46.5 bps over three-year Treasuries for $6 billion; 24 bps over Treasuries for $1 billion
|
| Call option: | None
|
| Settlement date: | May 21 for $6 billion; July 16 for $1 billion
|
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