WARNING:  QUEENSLAND TREASURY CORPORATION RETAIL BOND SCAM ALERT

Borrowing Program

2024-25 borrowing program update

*Data current as at 23 January 2025. Numbers rounded to nearest $100 million. 

 

Following the Queensland Mid-Year Fiscal and Economic Review (MYFER) released on 23 January 2025, QTC announced an increase of AUD2.0 billion to its term funding requirement for the 2024-25 financial year.

2024–25 indicative term-debt borrowing program

AUD Billion1 FY25
MYFER
FY26
MYFER
FY27
MYFER
FY28
MYFER
Total new money2 20.8 31.1 32.7 32.4
Net term debt refinancing3 6.1 10.8 11.4 11.8
Total term debt requirement 26.9 41.9 44.1 44.2
Change from 2024-25 State Budget 2.0 9.6 15.4 19.6
Data current as at 23 January 2025.
1. Numbers are rounded to the nearest AUD100 million.
2. Includes general government, government-owned corporations, local government and other entities (universities, grammar schools, retail water entities and water boards).
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.

2024–25 funding strategy 

For the remainder of FY25, QTC’s funding strategy is likely to include the following, subject to market conditions and client funding requirements:  

  • AUD benchmark bonds as the principal source of funding, including new AUD 2038 maturity or longer. 
  • Other issuances, which may include:
    • Green bond issuance, including a new green bond maturity.
    • Floating rate note 4-6 years
    • Non-AUD denominated bonds

QTC will continue to apply a disciplined approach to issuance and focus on engaging with a diverse investor base. 

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

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Data current as at 11 June 2024.
*Does not include short-term debt of approximately AUD6.0 billion each year. Actual net term debt raised is calculated from Annual Borrowing Program release to the release of the next Annual Borrowing Program.