WARNING:  QUEENSLAND TREASURY CORPORATION RETAIL BOND SCAM ALERT

Borrowing Program

2025-26 borrowing program update

*Data current as at 17 December 2025. Numbers rounded to nearest $100 million.

 

Following the 2025-26 Queensland Mid-Year Fiscal and Economic Review (MYFER) released on 15 December 2025, QTC announced a decrease of AUD1 billion to its term funding requirement for the 2025-26 financial year.

2025-26 indicative term-debt borrowing program

AUD Billion1 2025-26 MYFER 2025-26 Budget
Total new money2

Net term debt refinancing3		 25.9

6.6		 26.9

6.6
Total term debt requirement 32.5 33.5
Data current as at 15 December 2025.
1. Numbers rounded to the nearest AUD 100 million.
2. Includes general government, government owned corporations, local government, other entities (universities, grammar schools, retail water entities and water boards) and AUD 1.4 billion debt repayment each year from the Queensland Future Fund – Debt Retirement Fund.
3. Includes term debt maturities, net issuance undertaken in advance of borrowing requirements and scheduled client principal repayments.
Note: Funding activity may vary depending upon actual client requirements, the State’s fiscal position and financial market conditions.

2025-26 funding strategy 

For the remainder of the 2025-26 financial year, QTC’s funding strategy is likely to include the following, subject to market conditions and client funding requirements: 

  • AUD Benchmark Bonds: The principal source of funding. 
  • EUR Benchmark Bond: Issuance of a second EUR denominated benchmark bond. 
  • Other Term Debt: QTC will consider the issuance of other term debt, which may include green bonds, floating rate notes, non-AUD denominated bonds (benchmark and/or non-benchmark) and maturities out to 30 years subject to market pricing.
  • Short-Term Debt: Maintain approximately AUD 8.0 billion of short-term debt outstanding. 

QTC will continue to adhere to a disciplined approach to issuance, including syndication, tenders, and reverse enquiry, aiming for the majority of issuance via public transactions.

QTC's annual term debt issuance (actual and forecast)*

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Data current as at 15 December 2025.
*Does not include short-term debt of approximately AUD 8.0 billion each year. Actual net term debt raised is calculated from Annual Borrowing Program release to the release of the next Annual Borrowing Program.