Fannie Mae has priced a $4 billion issue of 1.750% new issue three-year Benchmark Notes at 99.926 to yield 1.775% at a spread of 32 basis points over U.S. Treasury notes. Bank of America Securities, Barclays Capital Inc. and JP Morgan & Co. were the lead managers for the transaction (CUSIP 31398AYM8). Co-managers include Goldman Sachs & Co., MFR Securities Inc., Morgan Stanley & Co. and UBS Securities LLC. U.S. investors (70.4%) were the main buyers. Asian investors bought 17.0%, Europeans bought 4.0% and investors from other non-U.S. regions bought the remaining 8.6%. Investor types were as follows: fund managers (41.2%), central banks (26.4%), commercial banks (23.4%), state and local governments (5.3%), corporate/pension funds (2.2%), insurance companies (1.2%) and retail investors (0.3%).
Fannie Prices Benchmark Notes Offering
Published July 10, 2009, 1:00 p.m. EDT
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