|
|
Article: Fannie Mae's $700 million debentures deal comes to market a day ahead of schedule. (Federal National Mortgage Association) (Corporate Securities) (Column)
- Article from:
- The Bond Buyer
- Article date:
- December 3, 1991
- Author:
CopyrightCOPYRIGHT 1991 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
The Federal National Mortgage Association priced its $700 million seven-year debentures offering yesterday, a day earlier than expected.
"It was ready to go so we went with it," said Gene Eisman, Fannie Mae's public relations director.
The agency originally planned to price the offering today, he said.
The noncallable 7.05% debentures were priced at 99.90625 to yield 7.067% or 18 basis points over seven-year Treasuries, Mr. Eisman said.
They will mature on Dec. 10, 1998. Settlement is Dec. 10 and the first interest payment is scheduled for June 10, 1992.
The agency will use proceeds partly to redeem $550 million of 11.75% ...