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Fannie Mae Prices First Subordinated Benchmark Notes Sell Out Early

WASHINGTON, DC-Fannie Mae's $1.5-billion inaugural subordinated 10-year benchmark notes hit sell-out crowds early in the day. The notes, with interest rates of 6.25% and a 6.293% yield, are payable twice a year.

By Diane Cook | Updated on January 26, 2001

WASHINGTON, DC-Fannie Mae’s $1.5-billion inaugural subordinated benchmark notes released yesterday have sold out early, according to Lesia Bullock, spokeswoman for the financial services company. In fact, there was an oversubscription where there is more demand than supply, she says.

Purchasers must have payments for the 10-year notes, CUSIP 31359MGT4, that sold in $1,000 increments at 99.684 per by Feb. 1, Bullock says. Semi-annual payments to investors will be every February and August starting in August 2001. The notes’ interest rate is 6.25% with a 6.293% yield.

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