Freddie Mac, the No. 2 U.S. home funding company, on Wednesday sold a record $10 billion three-year reference notes, the largest single new issue since the government-sponsored enterprises started global note programs over a decade ago.

The 2.125 percent notes, due March 23, 2012 were priced at 99.636 to yield 88 basis points over comparable U.S. Treasuries, according to a market source familiar with the sale.

This was the government-controlled company's first note sale of this maturity since a $3 billion offering in June.

Freddie Mac hired JPMorgan, Morgan Stanely and UBS to manage the sale. (Reporting by Caryn Trokie and Lynn Adler, Editing by Chizu Nomiyama)

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