WARNING:  QUEENSLAND TREASURY CORPORATION RETAIL BOND SCAM ALERT

Borrowing Program

2023-24 borrowing program update

*Data current as at 15 April 2024. Numbers rounded to nearest $100 million. 

 

Following the Queensland 2023–24 Budget Update released on 15 December 2023, Queensland Treasury Corporation (QTC) has decreased its indicative term debt borrowing program by AUD1.0 billion to AUD14.5 billion.

2023–24 indicative term-debt borrowing program

Requirements 2023-24 Budget Update
AUDm1
2023-24 Budget
AUDm1
State2 5,800 6,600
Local government and other entities3 1,400 1,400
Total new money 7,200 8,000
Net term debt refinancing4 7,300 7,500
Total term debt requirement 14,500 15,500
Data current as at 13 December 2023.
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.

2023–24 funding strategy

For the remainder of the 2023-24 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 green bonds, floating rate notes 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 13 December 2023.
*Does not include short-term debt of approximately AUD5.0 billion each year. Actual net term debt raised is calculated from Annual Borrowing Program release to the release of the next Annual Borrowing Program.