SAFA expects to be regular FRN issuer following A$2 billion tender [UPDATED]
- Wednesday, 13 February 2013
The February 13 tender by the South Australian Government Financing Authority (SAFA) (AA/Aa1) of a new 2016 maturity floating-rate note (FRN) benchmark is likely to be followed by further such issuance by the state funder. The agency raised A$2 billion (US$2.1 billion) in the introduction of the new benchmark select line, which priced at a margin of 20 basis points over bank bill swap rate (BBSW).
