Borrowing Program

2020/21 Borrowing Program estimate as at 9 October 2020 (Post Budget)

Term Funding Requirement $B $B
New money program 2.3
       
                                Net New Money 2.3
     Projected Maturities
Benchmark Bond 0.0
FRNs 2.0
Total Maturities 2.0
Total Term Funding Requirement 4.3

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 $3.0 billion – $4.0 billion of commercial paper outstanding through its domestic Short Term Inscribed Stock (STIS) program and offshore ECP program over the 2020/21 financial year.

3. New money requirements over the forward estimates period are estimated at:

Financial Year $B
2021/22 $2.6
2022/23 $1.8
2023/24 $0.0