January 29, 2010 (FinancialWire) — Freddie Mac (NYSE: FRE) said that it auctioned a $1 billion reopening of its 2.875% five-year  Reference notes security that matures on February 9, 2015. The stop yield for the issue, CUSIP 3137EACH0, was 2.714%, priced at 100.748022, or approximately 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 issue will settle on February 1, 2010, and is listed on the Euro MTF market of the Luxembourg Stock Exchange.

Virginia-based Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation’s residential mortgage markets.

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