Current monthly announcement - SAFA funding requirements are available

SAFA 2020-21 Indicative Funding Program

South Australia 2020-21 Post Budget Investor Update: Video | Transcript

Domestic AUD Information Memorandum

This Information Memorandum relates to an Australian Dollar medium term bond programme established by SAFA under which medium term bonds denominated in Australian dollars may be issued by the Issuer from time to time.

The Bonds will be issued with the benefit of a guarantee from the Treasurer of the State of South Australia pursuant to Section 15(1) of the Government Financing Authority Act 1982 (SA).

For more information see:

Domestic AUD Information Memorandum 2020

Domestic AUD Information Memorandum 2015

Please find the AUD Commercial Paper Information Memorandum here (372KB PDF)

Select Lines

Outstandings as at 31 December 2020.

Coupon %

Maturity Date

On Issue ($m)

5.00

20/05/2021

2,044.50

1.50

22/09/2022

2,467.00

AONIA FRN

16/06/2023

1,260.50

4.25

20/11/2023

1,520.00

2.25

15/08/2024

3,128.00

2.75

16/04/2025

1,250.00

3.00

20/07/2026

3,040.00

3.00

20/09/2027

1,500.00

3.00

24/05/2028

3,040.00

2.75

24/05/2030

1,765.00

1.75

24/05/2032

2,060.00

2.25

24/05/2040

952.00

Total

24,027.00

For further information on these SAFA services, please contact Andrew Kennedy, Director, Treasury Services, telephone 08 8226 9840.

Short Term Funding

Outstandings as at 31 December 2020.

Promissory Notes ($m)

700

AONIA FRN ($m)

860

Total Short Term Issuance inc. ECP ($m)

2,403

SAFA Inscribed Stock Dealer Panel

  • Australia and New Zealand Banking Group Limited
  • Bank of America Merrill Lynch
  • Citigroup Global Markets Australia Limited
  • Commonwealth Bank of Australia
  • Deutsche Bank AG - Australian Branch
  • The Hongkong and Shanghai Banking Corporation
  • JP Morgan Australia Limited
  • National Australia Bank Limited
  • Nomura Australia Ltd
  • RBC Capital Markets Ltd
  • Toronto Dominion Bank
  • UBS Australia Limited
  • Westpac Banking Corporation

For all enquiries regarding pricing supplements or historical term sheets, please contact Andrew Kennedy (andrew.kennedy2@sa.gov.au) or 08 8226 9840.

Euro Commercial Paper Program Panel

  • Bank of America Merrill Lynch
  • Barclays Capital
  • Citi
  • Commonwealth Bank of Australia - Hong Kong Branch
  • ING Bank NV
  • National Australia Bank Limited
  • RBC Capital Markets Ltd
  • RBS Group (Australia) Ltd
  • UBS Investment Bank

Euro Commercial Paper

Outstandings as at 31 December 2020.

Currency

Outstanding ($m)

AUD

0

USD

610

EUR

0

Euro Commercial Information Paper

On 4 June 2019 SAFA launched a new transaction for a 1 year AONIA Linked FRN with UBS as the Arranger and Sole Lead Manager, and IHS Markit as the Calculation Agent.

The Term Sheet for the issue can be found here. (115KB PDF)

History

First issuance - On 4 June 2019 SAFA launched a new transaction for a 1 year AONIA Linked FRN with UBS as the Arranger and Sole Lead Manager, and IHS Markit as the Calculation Agent.

Second issuance – text

Third issuance -Between 30 March and 2 April SAFA accessed primary markets for a 3rd 1yr AONIA transaction.

Market Consultation

SAFA, in conjunction with IHS Markit and UBS, conducted a series of market consultations regarding the proposed methodology.

Information regarding the coupon calculation methodology and product conventions can be found here. (1.33MB PDF)

An example of market pricing model can be found here. (269KB XLS)

On 2 April 2019, Standard & Poor's published an article “AONIA As An Alternative to One-Month BBSW In Australian Structured Finance Transactions” (119KB PDF) where they recommended using AONIA as an alternative interest rate benchmark.

On 19 March 2019, the Reserve Bank of Australia (RBA) made specific remarks regarding their expectation of some corresponding migration away from BBSW towards the cash rate, particularly for products or issuers where it made sense to reference a risk-free rate instead of a credit-based benchmark. SAFA’s intentions were in particular noted in this regard.

For further information please contact SAFA’s Director Treasury Services, Andrew Kennedy: andrew.kennedy2@sa.gov.au.

Floating Rate Bond - Maturing 10 December 2018

Termsheet Tranche 1 - Floating Rate Bond Maturing 10 December 2018 (32KB PDF)

Termsheet Tranche 2 - Floating Rate Bond Maturing 10 December 2018 (99KB PDF)

4.75% - Maturing 6 August 2019

Termsheet Tranche 1 - 4.75% Maturing 6 August 2019 (43KB PDF)

Termsheet Tranche 2 - 4.75% Maturing 6 August 2019 (167KB PDF)

Floating Rate Bond - Maturing 24 February 2020

Termsheet Tranche 1 - Floating Rate Bond Maturing 24 February 2020 (119KB PDF)

Termsheet Tranche 2 - Floating Rate Bond Maturing 24 February 2020 (119KB PDF)

AONIA Linked Floating Rate Bond - Maturing 12 June 2020

Termsheet Tranche 1 - AONIA Linked Floating Rate Bond Maturing 12 June 2020 (115KB PDF)

AONIA Linked Floating Rate Bond - Maturing 16 December 2020

Termsheet Tranche 1 - AONIA Linked Floating Rate Bond Maturing 16 December 2020 (332KB PDF)

AONIA Linked Floating Rate Bond - Maturing 6 April 2021

Termsheet Tranche 1 - AONIA Linked Floating Rate Bond Maturing 6 April 2021 (380KB PDF)

5.0% - Maturing 20 May 2021

Termsheet Tranche 1 - 5.0% Maturing 20 May 2021 (43KB PDF)

1.5% - Maturing 22 September 2022

Termsheet Tranche 1 - 1.5% Maturing 22 September 2022 (65KB PDF)

Termsheet Tranche 2 - 1.5% Maturing 22 September 2022 (128KB PDF)

Termsheet Tranche 3 - 1.5% Maturing 22 September 2022 (456KB PDF)

Termsheet Tranche 4 - 1.5% Maturing 22 September 2022 (335KB PDF)

AONIA Linked Floating Rate Bond - Maturing 16 June 2023

Termsheet Tranche 1 - AONIA Linked Floating Rate Bond Maturing 16 June 2023 (380KB PDF)

4.25% - Maturing 20 November 2023

Termsheet Tranche 1 - 4.25% Maturing 20 November 2023 - (73KB PDF)

Termsheet Tranche 2 - 4.25% Maturing 20 November 2023 - (152KB PDF)

Termsheet Tranche 3 - 4.25% Maturing 20 November 2023 - (83KB PDF)

Termsheet Tranche 4 - 4.25% Maturing 20 November 2023 - (31KB PDF)

2.25% - Maturing 15 August 2024

Termsheet Tranche 1 - 2.25% Maturing 15 August 2024 - (40KB PDF)

Termsheet Tranche 2 - 2.25% Maturing 15 August 2024 - (99KB PDF)

Termsheet Tranche 3 - 2.25% Maturing 15 August 2024 - (258KB PDF)

Termsheet Tranche 4 - 2.25% Maturing 15 August 2024 - (317KB PDF)

2.75% - Maturing 16 April 2025

Termsheet Tranche 1 - 2.75% Maturing 16 April 2025 (61KB PDF)

Termsheet Tranche 2 - 2.75% Maturing 16 April 2025 (160KB PDF)

3.0% - Maturing 20 July 2026

Termsheet Tranche 1 - 3.0% Maturing Bonds 20 July 2026 (220KB PDF)

Termsheet Tranche 2 - 3.0% Maturing 20 July 2026 (174KB PDF)

Termsheet Tranche 3 - 3.0% Maturing 20 July 2026 (100KB PDF)

Termsheet Tranche 4 - 3.0% Maturing 20 July 2026 (456KB PDF)

Termsheet Tranche 5 - 3.0% Maturing 20 July 2026 (317KB PDF)

3.00% - Maturing 20 September 2027

Termsheet Tranche 1 - 3.00% Maturing 20 September 2027 - (227KB PDF)

Termsheet Tranche 2 - 3.00% Maturing 20 September 2027 (130KB PDF)

3.0% - Maturing 24 May 2028

Termsheet Tranche 1 - 3.0% Maturing Bonds 24 May 2028 (128KB PDF)

Termsheet Tranche 2 - 3.0% Maturing Bonds 24 May 2028 (411KB PDF)

Termsheet Tranche 3 - 3.0% Maturing Bonds 24 May 2028 (411KB PDF)

Termsheet Tranche 4 - 3.0% Maturing Bonds 24 May 2028 (492KB PDF)

2.75% - Maturing 24 May 2030

Termsheet Tranche 1 - 2.75% Maturing 24 May 2030 (115KB PDF)

Termsheet Tranche 2 - 2.75% Maturing 24 May 2030 (115KB PDF)

Termsheet Tranche 3 - 2.75% Maturing 24 May 2030 (115KB PDF)

1.75% - Maturing 24 May 2032

Termsheet Tranche 1 - 1.75% Maturing 24 May 2032 (489 KB PDF)

Termsheet Tranche 2 - 1.75% Maturing 24 May 2032 (488 KB PDF)

Termsheet Tranche 3 - 1.75% Maturing 24 May 2032 (399 KB PDF)

2.25% - Maturing 24 May 2040

Termsheet Tranche 1 - 2.25% Maturing 24 May 2040 (470KB PDF)

Termsheet Tranche 2 - 2.25% Maturing 24 May 2040 (341KB PDF)

Termsheet Tranche 3 - 2.25% Maturing 24 May 2040 (449KB PDF)

Credit ratings are quantified assessments of the creditworthiness of a borrower, which would include their debt and financial obligations.

South Australia’s credit ratings

Standard & Poor’s AA+/Negative/A-1+ (27 September 2020)

Moody’s Aa1/Stable/P-1 (11 September 2012)