WASHINGTON — Fannie Mae said Wednesday that it will float a new issue of five-year noncallable benchmark debt securities in two weeks.

Pricing for the issue, which will be listed on the Luxembourg exchange, will take place Dec. 6 and will be settled on Dec. 8. The securities are set to mature on Dec. 15, 2005, and Fannie will pay interest on the bonds on June 15 and Dec. 15 of each year, beginning next year.

Credit Suisse First Boston, J.P. Morgan Securities Inc., and Morgan Stanley Dean Witter & Co. are the joint lead managers. The co-managers include ABN Amro; Bear, Stearns & Co.; Countrywide Securities Corp.; Deutsche Bank Securities Inc.; Goldman, Sachs & Co.; HSBC Securities USA Inc.; Lehman Brothers; Merrill Lynch & Co.; and Salomon Smith Barney Holdings Inc.

An additional 13 lenders will make up a designated selling group.

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