NEW YORK - Fannie Mae, the largest provider of funding for U.S. residential mortgages, said on Thursday it sold $9 billion in new five-year benchmark notes, a record size for this maturity.
The notes will mature on March 13, 2014 and were priced to yield 90 basis points over U.S. Treasuries, according to Fannie Mae.
Settlement is March 13.
In February, Fannie Mae sold $7 billion of new five-year notes, its largest issue of that maturity at the time, to yield 93 basis points over U.S. Treasuries. That issue was followed later in the month by a $15 billion two-year offering that was the biggest single new issue ever from the company.
Fannie Mae said it hired Banc of America, Citigroup Global Markets and Goldman Sachs to manage this week's sale. (Reporting by Caryn Trokie; Editing by Tom Hals)