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Thursday, 22 July 2021

Investors embrace SAFA transaction even at 15-year 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.

Monday, 19 July 2021
Jun/Jul 2021

Shifting sands change dynamics for Australia's government-sector issuers

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.

Thursday, 01 July 2021

SAFA planning new May 2036 syndicated deal

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.

Monday, 24 May 2021

SAFA launches A$500 million increase to May 2032 line

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.