Freddie Mac, the second-largest U.S. home funding company, on Wednesday launched $3.0 billion in new five-year reference notes due Aug. 20, 2012, with pricing expected on Thursday, said joint lead manager JP Morgan.

The other joint lead managers on the sale are Barclays Capital and RBS Greenwich Capital.

Freddie Mac will also sell on Thursday $1.0 billion in two-year reference notes in a reopening of an existing two-year issue due June 11, 2009.

The total size of the two-year after the reopening will be $5.0 billion. The two-year will be sold via an Internet auction.

With these two sales Freddie Mac will have issued $29 billion of reference notes during 2007 and will have about $238 billion in reference notes and bonds outstanding.

Settlement for both issues is June. 15.

Freddie mac Barclays