Domestic Short-Term Note Program

Domestically, short-term funds are raised through the issue of short-term notes in the form of inscribed stock.

At 30 April 2021, $2,201 million was outstanding in short-term notes.

Issuance of WATC’s short-term notes is not restricted to market makers and is undertaken on a tap basis, primarily with domestic banks. Short-term notes are typically issued for terms not greater than one year.

WATC’s domestic short-term notes are issued in a manner which satisfies the requirements for exemption from interest withholding tax.

The top three investors in short-term notes for the period 1 December 2020 to 28 February 2021 were:

  1. National Australia Bank
  2. ANZ Investment Bank
  3. Bank of America