Borrowing Program

2018/19 Borrowing Program update 31 March 2019

Term Funding Requirement $B $B
New money program 0.9
Projected Maturities
FRNs 0.0
 
Residual CP refinancing 0.0 0.0
Total Term Funding Requirement 0.9

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 2018/19 financial year.
  3. New money requirements over the forward estimates period are estimated at:

2019/20: $1.5 billion
2020/21: $0.6 billion
2021/22: $1.3 billion