Fannie Mae to Redeem $175-Mil UUFI Notes

WASHINGTON DC-Fannie Mae is redeeming some recallable universal fixed-interest securities according to information released by the financial services company. The firm is calling in $25 million dollars worth of UUFI, 31364KGD6, and $150 million worth of UUFI, CUSIP 31364KGG9, with maturity dates of Jan. 12, 2005.

“In January last year, Fannie Mae consolidated a number of different debt issuances into a universal package,” says company spokeswoman Janis Smith. “These are recallable notes, and our investors understood that when they purchased them. We consistently review these notes to determine when to buy them back. We’re buying them back because it’s more cost effective to do so.”