QTC’s inaugural Green Bond

On 15 March 2017, QTC issued an inaugural AUD750 million 7 year Green Bond with a coupon of 3.00 per cent. This was the largest AUD green bond issuance from an Australian issuer at the time. This issuance was certified by the Climate Bonds Initiative (CBI) and verified by DNV GL.

About QTC Green Bonds

Proceeds from QTC green bonds are used to fund qualifying green projects and assets for the State of Queensland that support Queensland’s transition to a low carbon, climate resilient and environmentally sustainable economy.

In response to an evolving green bond market, QTC has expanded its Green Bond Framework to facilitate issuance of both:

  • CBI certified green bonds, and
  • green bonds that accord with the International Capital Market Association (ICMA) Green Bond Principles.

Details can be found in the QTC Green Bond Framework.

The QTC Green Bond Framework has been developed in line with the Green Bond Principles and is consistent with the Climate Bonds Standard. It has been reviewed by DNV GL, an independent third party, who has provided an assurance opinion confirming accordance with the ICMA Green Bond Principles.

Eligible Projects

The net proceeds of both categories of green bonds may be allocated (directly or notionally) to existing, new and ongoing eligible projects that have an environmental benefit associated with the State of Queensland.

Eligible project guidelines are set out in the QTC Green Bond Framework.

Allocation of Proceeds

The proceeds from the March 2017 issuance of CBI certified green bonds contributed towards a range of projects and assets from the low carbon transport and renewable energy categories of the Climate Bonds Standard.

Details on allocation of proceeds and the eligible projects can be found in the QTC Green Bond Report 2018.

Key Features

QTC Green Bond Framework

 

Assurance

 

Government guaranteed
Certification

 

Reporting

 

Tax status
  • Exempt from Australian interest withholding tax.

 

QTC green bonds on issue

MaturityCouponISINCredit rating^Outstandings#
3 March 2024*3.00%AU000XQLQAD1 AA+/Aa1750

*144A capability.
#AUD million.
^Credit ratings should not be taken as recommendations by a rating agency to buy, sell or hold securities (including the QTC Green Bonds). They may be revised, suspended or withdrawn at any time by the rating agency.
Data as at 28 April 2018.

 

 

THIS WEBPAGE IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES. This webpage does not constitute an offer of any securities for sale into the United States. The QTC Green Bonds will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.