WARNING:  QUEENSLAND TREASURY CORPORATION RETAIL BOND SCAM ALERT

Borrowing Program

2023-24 borrowing program update

*Data current as at 8 December 2023. Numbers rounded to nearest $100 million. 

 

Following the Queensland 2023–24 State Budget released 13 June 2023, Queensland Treasury Corporation (QTC) estimates it will borrow AUD15.5 billion of term debt in the 2023–24 financial year.

2023–24 indicative term-debt borrowing program

Requirements 2023-24
AUDm1
 2024-25
AUDm1
 2025-26
AUDm1
 2026-27
AUDm1
State2 6,600 13,100 13,600 14,800
Local government and other entities3 1,400 1,200 1,000 700
Total new money 8,000 14,300 14,600 15,500
Net term debt refinancing4 7,500 8,400 9,800 11,400
Total term debt requirement 15,500 22,700 24,400 26,900
Data current as at 13 June 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

QTC’s 2023–24 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 2036 or longer maturities.
  • Other term debt, which may include green bonds, floating rate notes and non-AUD denominated bonds.
  • Maintaining a minimum of approximately AUD5.0 billion of short-term debt outstandings.

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

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Data current as at 13 June 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.