To meet the State’s funding and debt management requirements, Western Australian Treasury Corporation's (WATC) 2022-23 borrowing program as at 31 January 2023 is:
| Term Funding Requirement | $B | $B |
| New Money Program (Estimated) | 0.4 | |
| Projected Maturities | ||
| FRN | 1.8 | |
| Less pre-funded FRN | -1.2 | |
| Total Maturities + New Money | 1.0 | |
| Other - CP to Term | 0.7 | |
| Total Term Funding | 1.7 |
Funding Strategy for 2022-23
It is expected that WATC’s Benchmark Bond Program will be the primary source of term funding, supplemented by Floating Rate Notes. However actual amounts and the composition of term funding is subject to the borrowing requirements of WATC’s clients and market conditions.
In addition to the term funding requirement, WATC expects to maintain approximately $2.5 billion – $4.5 billion of commercial paper outstanding through its domestic Short-Term Inscribed Stock (STIS) and offshore Euro Commercial Paper programs over the 2022-23 financial year.
Banner image below - The Bell Tower, Perth. Image courtesy of Tourism Western Australia.