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WASHINGTON - Fannie Mae, the government-backed mortgage company, on Wednesday announced plans to issue 3-year benchmark notes.
The pricing of the notes, set to mature Aug. 10, 2012, is scheduled for Thursday. The issue size and coupon have not yet been announced. Payments on the notes will be made each Aug. 10 and Feb. 10 starting next month, Fannie Mae said in a statement.
The company's share price was down 2 cents to 51 cents in afternoon trading.
The company said it will apply to list the securities on the EuroMTF market of the Luxembourg Stock Exchange.
Banc of America Securities, Barclays Capital Inc., and J.P. Morgan & Co. are the joint lead managers. The co-managers include Goldman Sachs & Co., MFR Securities Inc., Morgan Stanley & Co. and UBS Securities LLC.
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