Borrowing Program

2021–2022 borrowing program update

*Data current as at 26 May 2022.

Following the Queensland 2021–22 Budget Update, Queensland Treasury Corporation (QTC) estimates it will borrow AUD14.3 billion of term debt in the 2021–22 financial year.

2021–22 indicative term-debt borrowing program

Requirements 2021-22 Budget Update
AUDm1
2021-22 Budget
AUDm1
State2 7,900 11,000
Local government and other entities3 1,200 1,200
Total new money 9,100 12,200
Net term debt refinancing4 5,200 5,200
Total term debt requirement 14,300 17,400
Data current as at 16 December 2021.
1. Numbers are rounded to the nearest AUD100 million.
2. Includes general government and government-owned corporations.
3. Other entities include: universities, grammar schools, retail water entities and water boards.
4. 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.

2021–22 funding strategy

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

  • A programmatic approach to issuance, including syndication, tenders and reverse enquiry.
  • AUD benchmark bonds as the principal source of funding.
  • Other term debt, which may include floating rate notes, bond maturities out to 30 years and non-AUD denominated bonds.
  • Maintaining a minimum of approximately AUD5 billion of short-term debt outstandings.

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

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Data current as at 16 December 2021.
* Does not include short-term debt of approximately AUD5 billion each year. Actual debt raised is calculated from Annual Borrowing Program release to the release of the next Annual Borrowing Program, except for 2019-20 due to out of cycle Annual Borrowing Program release.