South Australian Government Financing Authority
In June, Westpac Institutional Bank and KangaNews brought together the biggest issuers in the Australian government sector to discuss a rollercoaster ride in markets since the end of March. The issuers describe a relatively straight-line improvement since the thrills and spills of the March-April period, with returning investors supporting increasing issuance volume and liquidity at extended tenor.
By adding a 15-year point on its curve, South Australian Government Financing Authority’s latest syndicated deal suggests continued investor appetite for longer-dated issuance.
KangaNews and Westpac Institutional Bank hosted their annual roundtable for Australia’s sovereign and semi-government issuers in June – via audioconference, as the discussion happened as many Australian states were re-entering lockdown following the latest outbreak of COVID-19. Despite the sting in the pandemic’s tail, issuers are confident about the resilience and functionality of their market as they enter new financial years.
On 1 July, South Australian Government Financing Authority (SAFA) revealed plans for a new May 2036 line, for up to A$1 billion (US$750 million), which it intends to bring to market during July. ANZ, Commonwealth Bank of Australia, National Australia Bank and UBS have been mandated as joint lead managers for the syndicated deal.
HIGH-GRADE ISSUERS YEARBOOK 2021
The ultimate guide to Australian and New Zealand government-sector borrowers.