Freddie Mac-No Politics (FMCC)

[gabbyco]

Freddie Mac $3B 2-Yr Notes Sold At Tsys +88 BPs -SourceLast update: 7/17/2008 9:14:53 AMNEW YORK (Dow Jones)--Freddie Mac (FRE) on Thursday sold $3 billion of two-year notes at 88 basis points over Treasurys, according to Jim Vogel at FTN Financial. Vogel added that the book was oversubscribed. The spread of 88 basis points was in line with expectations, which was in the high 80s. The reference notes are due July 16, 2010, and the deal was underwritten by Barclays Capital, Goldman Sachs and JP Morgan. Risk premiums on Fannie Mae's (FNM) 3.25% issue due 2010 were at 87.8 basis points. The note priced at 74 basis points over Treasurys last week. Freddie Mac and Fannie Mae either own or guarantee about $5.2 trillion of U.S. home mortgages, nearly half of all mortgages outstanding. -By Romy Varghese, Dow Jones Newswires; 201-938-4287; [e-mail] Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/al?rnd=3ru6gTaivZCBBtacGq6Qnw%3D%3D. You can use this link on the day this article is published and the following day. (END) Dow Jones NewswiresJuly 17, 2008 09:14 ET (13:14 GMT)