Benchmark bonds
Large and liquid domestic bonds that are actively traded in the financial markets.
Non-benchmark bonds
NSW Government bonds for international investors with a range of currencies and maturities.
Sustainability bonds
Green, social and sustainability bonds provide a mechanism for investors to contribute capital to achieve environmental and social goals.
Market announcements
Access the latest announcements from our Funding team.
TCorp’s Funding Programme
TCorp issues bonds in order to provide financing to the NSW Government sector and all NSW government agencies. As the central borrowing authority for NSW, our balance sheet is around A$198 billion.
2025-26 NSW State Budget
| A$ billion |
FY26 HYR Forecast
|
FY27 forecast
|
FY28 forecast
|
FY29 forecast
|
| New borrowing |
14.7 |
9.5 |
7.9 |
7.1 |
| Refinance |
11.1 |
12.1 |
17.2 |
16.2 |
| Less prefunding |
-4.0 |
- |
- |
- |
| Funding
requirement |
21.8 |
21.6 |
25.1 |
23.3 |
| FY26 term funding completed at 17 Dec 2025 |
12.1 |
- |
- |
- |
| Remaining funding requirement for FY26 |
9.7 |
- |
- |
- |
Numbers in brackets are changes from the 2025/26 Budget forecasts as at 24 June 2025.
Forecasts expressed in capital value as at 19 December 2025.
Numbers rounded to the nearest A$100 million.
Source: TCorp, NSW Treasury
