On 24 May, South Australian Government Financing Authority (SAFA) (AA+/Aa1) launched a syndicated increase of up to A$500 million (US$386.5 million) to its existing May 2032 line. Indicative price guidance for the deal is 38-40 basis points area over 10-year futures contract, equivalent to 28.1-30.1 basis points area over Australian Commonwealth government bond. Pricing is expected on the day after launch, according to lead managers ANZ, Deutsche Bank and J.P. Morgan.