Borrowing Program

2026-27 borrowing program update

 

Data current as at 25 June 2026. Numbers rounded to nearest $100 million.

 

Following the 2026–27 Queensland Budget released on 23 June 2026, QTC estimates it will borrow AUD28.7 billion of term debt in the 2026–27 financial year.

2026-27 indicative term-debt borrowing program

AUD Billion1 FY27 FY28 FY29 FY30
Total new money2

Net term debt refinancing3		 23.3

5.4		 22.2

11.3		 20.4

12.6		 17.2

18.5
Total term debt requirement 28.7 33.5 33.0 35.7
Data as at 23 June 2026.
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 $1.4 billion debt repayment (FY27 – FY29) 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.

2026-27 funding strategy 

QTC’s 2026-27 funding strategy is likely to include the following, subject to market conditions and client funding requirements: 

  • AUD benchmark bonds will remain the principal source of funding, including issuance of new AUD benchmark bond maturities.
  • Issuance of floating rate notes and labelled bonds to complement AUD benchmark bond issues.
  • Consideration of a new EUR benchmark bond and/or other non-AUD issuance opportunities.
  • QTC will continue to adhere to a disciplined approach to issuance, including syndication, minimum monthly tenders, and reverse enquiry, with public issuance of approximately two-thirds of total funding.
  • Maintain approximately AUD8 billion of short-term debt outstanding.

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

Chart loading...
*Budget released 23 June 2026.
^Does not include short-term debt of approximately AUD8 billion each year. Actual net term debt issued is calculated from Annual Borrowing Program release to the release of the next Annual Borrowing Program.