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:
- National Australia Bank
- ANZ Investment Bank
- Bank of America