For Investors

Institutional Investors

Our borrowing activities in wholesale financial markets and information on wholesale funding sources for institutional investors and financial intermediaries.

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?

Government Guarantee

The financial liabilities incurred or assumed by WATC are guaranteed by the Treasurer on behalf of the State of Western Australia.

$ 49.7 b
Total Debt

WATC is responsible for raising funds on behalf of the State of Western Australia. At 30 June 2023, WATC’s total debt amounted to $49.7 billion.

S&P Credit Rating

WATC’s borrowings are afforded strong credit ratings, being rated AAA by Standard and Poor’s and Aaa by Moody’s Investors Service.

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 Program

    Access our new money program and our funding strategy.

    Learn more
  • Funding Sources

    Our funding sources include both domestic and offshore solutions.

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  • Sustainable Finance Program

    Our structure to finance environmental, social and governance initiatives.

    Learn more
  • Dealer Panel

    Learn more about our distribution network.

    Learn more
  • Investor Term Sheets

    Access details of our syndicated issues.

    Learn more
  • Weekly Issuance Update

    A summary of Benchmark Bond and Floating Rate Note activity.

    Learn more

Banner image top - Kings Park and Botanic Garden. Image courtesy of Tourism Western Australia.