QTC 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 and longest tenor AUD green bond issuance from an Australian issuer at the time. QTC Green Bonds are guaranteed by the Queensland State Government, issued under the AUD Bond Program with 144A capability and certified by the Climate Bonds Initiative.

About QTC Green Bonds

Proceeds from QTC Green Bonds are to be used to fund qualifying green projects and assets for the State of Queensland. The proceeds are allocated to specific projects that support Queensland’s transition to a low-carbon and climate resilient economy. The qualifying green projects and QTC’s Green Bond Framework have been certified by the Climate Bonds Initiative and verified by DNV GL, an approved third-party assurance provider.

Projects and assets

Proceeds from QTC Green Bonds are allocated to fund an eligible portfolio of projects and assets that support the State’s transition to a low carbon and climate resilient economy. Eligible projects must meet the certification requirements of the Climate Bonds Standard.  The composition of the project portfolio may change throughout the life of the bond and information on any changes will be made available.

The proceeds from the March 2017 issuance of QTC Green Bonds will go towards a range of projects and assets from the low-carbon transport and renewable energy categories of the Climate Bonds Standard. Projects and assets include:

  • Gold Coast Light Rail stage 1 and 2
  • Moreton Bay Rail Link
  • New Generation Rolling Stock
  • Various cycleways and
  • Sunshine Coast Solar Farm.
Low carbon transport

Cycleways

Low carbon transport

Electrified rail infrastructure

Renewable energy

Solar

Key Features

Tax status
  • Exempt from Australian interest withholding tax

 

Government guaranteed
  • The March 2017 issuance was rated AA+/Aa1 by Standard & Poor’s and Moody’s Investor Services respectively
  • QTC’s debt obligations under all debt securities are unconditionally guaranteed by the Queensland State Government.
Certification and verification

 

Presentations

Reporting

QTC will provide annual updates on QTC Green Bonds for public release, which will disclose the following information:

  • net proceeds of QTC Green Bonds
  • an updated list of eligible projects including a brief description, amounts disbursed against the projects and their expected environmental objectives, and
  • outcomes and impact reporting (where available)

The updated independent verification statement and certification report will be made available annually, commencing within one year from the date of issuance of the applicable QTC Green Bond.

 

 

Fixed Income Distribution Group

ANZ Banking Group Limited

Domestic (Australia) +61 2 8037 0220

Global (London) +44 203 229 2070

Bank of America Merrill Lynch

Domestic (Australia) +61 2 9226 5570

Global (London) +44 207 995 6750

Citi

Domestic (Australia) +61 2 8225 6440

Global (London) +44 207 986 9521

Commonwealth Bank of Australia

Domestic (Australia) +61 2 9117 0020

Global (London) +44 207 329 6444

Deutsche Bank

Domestic (Australia) +61 2 8258 1444

Global (London) +44 207 547 1931

J.P. Morgan

Domestic (Australia) +61 2 9003 7988

Global (London) +44 207 742 1829

National Australia Bank

Domestic (Australia) +61 2 9295 1166

Global (London) +44 207 796 4761

Nomura International plc

Domestic (Australia) +61 2 8062 8000

Global (London) +44 207 103 3443

RBC Capital Markets

Domestic (Australia) +61 2 9033 3222

Global (London) +44 207 029 0094

TD Securities

Domestic (Australia) +61 1800 646 497

Global (London) +44 207 628 4334

UBS Investment Bank

Domestic (Australia) +61 2 9324 2222

Global (London) +44 207 567 3645

Westpac Banking Corporation

Domestic (Australia) +61 2 8204 2711

Global (London) +44 207 7621 7620

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.