Freddie Mac reports that it auctioned a $1 billion reopening of its 1.625% three-year USD Reference Notes security that matures on April 15, 2013. The stop yield for the issue, CUSIP 3137EACJ6, was 1.75%, priced at 99.636525, or approximately 12.7 basis points more than three-year U.S. Treasury Notes. The bid-to-cover ratio was 4.13 to 1.
After the reopening, which was conducted via an Internet-based auction, the outstanding size of the 1.625% three-year Reference Notes security will be $6.5 billion. The issue will settle on April 21, Freddie Mac says.
SOURCE: Freddie Mac