On 10 June, South Australian Government Financing Authority (SAFA) (AA+/Aa1) launched a three-year, Australian Overnight Index Average (AONIA)-linked floating-rate note (FRN) transaction. The minimum volume for the forthcoming deal is A$100 million (US$69.7 million) and is capped at A$1 billion. Indicative price guidance is 34 basis points area over the daily compounded AONIA.
