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SAFA launches A$1.5 billion open tap

Monday, 06 April 2020

On 6 April, South Australian Government Financing Authority (SAFA) (AA+/Aa1) launched a syndicated increase to its existing even-year benchmark lines for an aggregate total of up to A$1.5 billion (US$902.8 million). Pricing is expected on the day after launch, according to Citi, Commonwealth Bank of Australia, National Australia Bank and UBS.

Indicative price guidance for lines

Coupon (per cent)MaturityIndicative price guidance (bp/ACGB)Indicative price guidance (bp/futures)
1.5 22 Sep 22 44-47 area/Jul 22 42-45 area/3 year 
2.25  15 Aug 24  57.25-60.25 area/Apr 24  63.5-66.5 area/3 year 
20 Jul 26  68.5-71.5 area/Apr 26  92-95 area/3 year 
24 May 28  72.5-75.5 area/May 28  63-66 area/10 year 
2.75  24 May 30  84.55-87.55 area/May 30  86-89 area/10 year 
1.75  24 May 32  94.25-97.25 area/May 32  105-108 area/10 year 

Source: Commonwealth Bank of Australia 6 April 2020

 

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