To meet the State's funding and debt management requirements, Western Australian Treasury Corporation's (WATC) 2024–25 borrowing program at 24 December 2024 is:
| Term Funding Requirement | At Mid-Year Financial Projections Statement | |||
| 2024–25 $b | 2025–26 $b | 2026–27 $b | 2027–28 $b | |
| New Money Program (Estimated) | 1.0 | 1.0 | 2.5 | 2.4 |
| Projected Maturities | 1.6 | 6.6 | 6.5 | 5.3 |
| Less pre-funding | -1.6 | 0.0 | 0.0 | 0.0 |
| Total Maturities + New Money | 1.0 | 7.6 | 9.0 | 7.7 |
| Refinance from Short to Term Funding | 1.0 | 0.0 | 0.0 | 0.0 |
| Total Term Funding | 2.0 | 7.6 | 9.0 | 7.7 |
WATC 2024–25 Funding Strategy
For the remainder of the 2024–25 financial year WATC’s funding strategy will focus on:
- the establishment of a new labelled benchmark bond,
- where possible building outstandings in existing bond and Floating Rate Note (FRN) lines, and
- accessing markets through reverse enquiry, tenders, taps and syndication.
Note the actual amounts and the composition of term funding is subject to the borrowing requirements of WATC's clients and market conditions.
WATC may also undertake the pre-funding of FY 2025–26 requirements subject to market conditions.
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 Euro Commercial Paper (ECP) programs over the 2024–25 financial year.
Banner image below - The Bell Tower, Perth. Image courtesy of Tourism Western Australia.