Western Australian Treasury Corporation (WATC) is the central borrowing authority for Western Australia. Investors in our debt securities benefit from the guarantee of all financial obligations provided under the Western Australian Treasury Corporation Act 1986, by the Treasurer on behalf of the State of Western Australia. All payments of interest during the term of an investment and the repayment of principal at maturity are guaranteed by the State of Western Australia.
Why Choose WATC?
WATC’s borrowings are afforded strong credit ratings, being rated AAA by S&P Global Ratings and Aaa by Moody’s Ratings.
WATC is responsible for raising funds on behalf of the State of Western Australia. At 30 June 2025, WATC’s total debt amounted to $51.1 billion.
The financial liabilities incurred or assumed by WATC are guaranteed by the Treasurer on behalf of the State of Western Australia.
Investing in Western Australia
View the latest updates for institutional investors by clicking on the resources below.
High Level Investor SummaryInvestor Brochure February 2026Stable credit ratings, a strong economy, and sound fiscal management are just a few of the reasons why Western Australia is a secure and sustainable choice for institutional investors. Learn more in our high‑level summary.
Full Investor PresentationInvestor Update February 2026Gain a broader understanding of the Australian context, the unique economy of our State including our climate and environmental priorities, and our Borrowing and Sustainable Finance Programs.
About Our Wholesale Funding Activities
At WATC, we undertake wholesale funding activities through a range of debt facilities in both domestic and overseas financial markets, to source funding for our borrowing program.
Via these facilities, we conduct debt issuance through individual dealer panels comprised of a select number of key financial intermediaries in the relevant markets. WATC accesses funding through the following established borrowing facilities:
- Domestic A$ Benchmark Bonds
- Domestic A$ Floating Rate Notes (FRN)
- Domestic Short-Term Notes
- Euro Medium Term Notes (EMTN)
- Euro Commercial Paper (ECP).
Our primary source of long-term funding is the domestic fixed interest market. Long-term funding, mainly through domestic benchmark bonds, comprises approximately 75 per cent of total borrowings.
WATC is also a key participant in domestic and offshore short-term markets, issuing short-term notes and ECP for liquidity funding. Subject to borrowing program requirements we explore opportunities to issue through our EMTN Program to generate term fixed and floating rate funding.
- Borrowing ProgramLearn more
Our new money program and funding strategy.
- Funding SourcesLearn more
Our funding sources including both domestic and offshore solutions.
- Sustainable Finance ProgramLearn more
Our structure to finance environmental, social and governance initiatives.
- Dealer PanelLearn more
Our distribution network.
- Investor Term SheetsLearn more
Details of our syndicated issues.
- Weekly Issuance UpdatesLearn more
A summary of Benchmark Bond and Floating Rate Note activity.
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ESG Outcomes
Find out how Western Australia is supporting continuous improvement in environmental, social and governance outcomes.