Borrowing Program

2019/20 Borrowing Program update 30 September 2019

Term Funding Requirement $B $B
New money program 0.0
Projected Maturities
Benchmark Bond 2.4
     FRN 2.4
Prefunded Bond & FRN maturity -1.4
Total Maturities 3.4
Reduction in Financial Assets -2.1
Total Term Funding Requirement 1.3

Notes:

  1. 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.
  2. In addition to the term funding requirement, WATC expects to maintain approximately $2 billion – $3 billion of commercial paper outstanding through its domestic Short Term Inscribed Stock (STIS) program and offshore ECP program over the 2019/20 financial year.