*Data current as at 28 September 2021.
Following the Queensland 2021–22 State Budget release, Queensland Treasury Corporation (QTC) estimates it will borrow AUD17.4 billion of term debt in the 2021–22 financial year.
|Requirements||2021-22 AUDm1||2022-23 AUDm1||2023-24 AUDm1||2024-25 AUDm1|
|Local government and other entities3||1,200||1,000||1,100||200|
|Total new money||12,200||11,400||7,800||5,500|
|Net term debt refinancing4||5,200||8,400||9,400||9,600|
|Total term debt requirement||17,400||19,800||17,200||15,100|
2021–22 funding strategy
QTC’s 2021–22 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, including new AUD 2033 or longer maturities.
- Green bond issuance, including a new green bond maturity.
- 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.
Jose Fajardo, Head of Funding and Liquidity provides a video update on QTC’s indicative borrowing program and funding strategy.