Freddie Mac to float new share offering

The Cambodia News.Net
Friday 18th July, 2008

Mortgage finance giant Freddie Mac has announced that it will raise US$5.5 billion through a new share offering.

The amount and mix of securities will be subject to approval by Freddie Mac's board of directors.

Freddie Mac, along with rival Fannie Mae, is now being regulated by the Office of Federal Housing Enterprise Oversight, after fears of its collapse.

The Federal Reserve opened up its lending facility to both Freddie and Fannie and the US Treasury proposed a plan to allow more credit and government equity.

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