Freddie Mac (FRE) announced it will sell new three-year notes on Tuesday.

The mortgage finance company didn't specify the size of the deal, but it is expected to be of moderate size within $5 billion.

The initial price talk on the deal is 49 basis points over comparable Treasury yields. This offers a significant premium over the existing Freddie 2.125%, three-year note that was sold in February, which now trades at 36/33, according to Tradeweb data.

The notes, which will be due June 15, 2012, will be sold on Tuesday. Settlement is on May 21.

Barclays Capital, Inc., Banc of America Securities and J.P. Morgan Chase will lead the deal.

 
   -By Agnes T. Crane, Dow Jones Newswires, 201-938-2122; 
agnes.crane@dowjones.com