Funding facilities

QTC offers global investors a diverse range of funding facilities in a variety of markets, currencies and with various terms to maturity. Most of QTC’s funding, which is undertaken to meet its public sector clients’ borrowing requirements and to refinance existing debt, is sourced through its long-term debt facilities. QTC’s AUD benchmark bonds are its primary source of funding and issues into existing lines using by tap, tender and reverse enquiry.

Diverse range of funding facilities

QTC funding sources by facility

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QTC maintains a diversified global focus to meet its funding requirements. $A Bond and Euro MTN facilities are admitted to trading on the regulated market of the Luxembourg Stock Exchange (the LuxSE) and listed on the Official List of the LuxSE.

QTC has chosen Luxembourg as its ‘home member state’ within the European Union in respect of its Global $A Bond and Euro MTN facilities.

*AGG – Australian Government Guaranteed. Data as at 31 October 2016
Note: Chart values are AUD face value millons

Long-term facilities

QTC has established onshore and offshore funding facilities to enable access to funds when required.

FacilitySize $MGoverning LawMaturitiesCurrenciesOn issue
AUD M
Placement
AUD BondUnlimitedQueensland13 benchmark lines: 2017-2028, 2033AUD71,085Reverse enquiry or public issues through Distribution Group
3 AGG* lines: 2017-2021AUD5,001Traded in the secondary market through the Distribution Group
Capital indexed bond: 2030AUD663Reverse enquiry through Distribution Group
2 floating rate notes: 2017 & 2018AUD4,746Reverse enquiry through Distribution Group
Global AUD BondAUD 20,000New York and QueenslandAGG* line: 2017 (transferable to domestic bonds)AUD185Traded in the secondary market through the Distribution Group
Multi-currency Euro MTNUSD 10,000English and QueenslandAny maturity subject to market regulationsMulti-currency1,271Reverse enquiry through Dealer Panel
Multi-currency US MTNUSD 10,000New York and Queensland9 months - 30 yearsMulti-currency0Reverse enquiry through Dealer Panel
*AGG – Australian Government Guaranteed. Data as at 31 December 2016

Short-term facilities

FacilitySize $MGoverning LawMaturitiesCurrenciesOn issue
AUD M
Placement
Domestic T-NoteUnlimitedQueensland7 - 365 daysAUD7,355Reverse enquiry through Dealer Panel
Euro CPUSD 10,000English and Queensland1 - 364 daysMulti-currency449Continuously offered through Dealer Panel
US CPUSD 10,000New York and Queensland1 - 270 daysUSD228Continuously offered through Dealer Panel
The funding facilities listed are supplemented with public issues and private placements.
Data as at 31 December 2016

Funding sources by investor location

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Funding approach

QTC takes a conservative risk management approach in all its borrowing and on-lending activities, with a balanced debt maturity profile supported by liquid reserves.

QTC undertakes comprehensive, regular market and investor updates through its roadshow program to ensure all markets sectors are kept informed on Queensland’s economic and fiscal position.

QTC is committed to maintaining valued long-term investor and intermediary relationships. QTC’s domestic and global investors include central banks and other sovereign investors, multi-national finance, superannuation and investment corporations, and major domestic and international banks.

Approximately 40 per cent of QTC’s funding is sourced from offshore based investors.