Freddie Mac now, with the inclusion of today's (June 7) announcement, now has $162.50 billion in outstanding Reference Notes and Bonds. Goldman Sachs, Merrill Lynch and J.P. Morgan & Co. headed this new transaction. Bear Stearns & Co., ABN Amro, Credit Suisse First Boston, Deutsche Banc Alex, HSBC Securities, Lehman Brothers, Morgan Stanley, Salomon Smith Barney, UBS Warburg and Tokyo-Mitsubishi International co-managed the transaction. Also, a 12-member selling group was part of the syndicate.

Freddie Mac officials note that during 2001 the company plans to issue "5-year Reference Notes in the first month of each quarter (January, April, July and October). Three-year issues and the Reference Bonds--30-year issues--will be offered in the second month of each quarter. Ten-year and two-year issues will occur in the third month of each quarter.

"For the 5- and 10-year maturities, new issues are scheduled for the first and third quarters of the year, with reopenings of outstanding issues in the second and fourth quarters," they say. "Two-year and three-year transactions will be sold via an Internet-based dutch auction. During 2001, Freddie Mac is targeting a total of $90 billion in Reference Notes and Bonds issuance. That target program amount comprises a target of $20 billion each in 5- and 10-year issues, $40 billion in a combination of 2- and 3-year auctions, and $10 billion in 30-year Bonds. "