Freddie Auctions $1B RefNote Reopening

Freddie Mac has announced the auctioning of a $1 billion reopening of a 5.25% five-year Reference Notes security due July 18, 2011.The stop yield was 5.041% for the issue (CUSIP: 3137EAAF6), which was priced at 103.880983, or approximately 32.9 basis points more than five-year U.S. Treasury notes. The bid-to-cover ratio was 3.205 to 1. Following the reopening, the issue size will be $5 billion. The settlement date is Sept. 15.