Borrowing Program

Western Australian Treasury Corporation 2022-23 borrowing program update as at 16 December 2022:

Term Funding Requirement $B $B
New money program (Est.) 1.0
     Projected Maturities
FRN 1.8
Less pre-funded FRN -0.2
Total Maturities  + New Money 2.6
Other – CP to Term 0.6
Total Term Funding  3.2

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 ECP programs over the 2022-23 financial year.