SAFA launches new one-year AONIA-linked FRN deal

South Australian Government Financing Authority (SAFA) (AA+/Aa1) launched a new, one-year, syndicated Australian Overnight Index Average (AONIA)-linked floating-rate note (FRN) deal, on 4 June. The forthcoming transaction has indicative price guidance of 38-43 basis points area over the daily compounded AONIA, and indicative volume of A$100 million (US$69.7 million). Pricing is expected on 6 June, according to sole lead manager UBS.