Institutional investors

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.

Short Term Programme

Short dated investments including domestic promissory notes, cash, deposits and Euro commercial paper.

Sustainability bonds

Green, social and sustainability bonds provide a mechanism for investors to contribute capital to achieve environmental and social goals.

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$172 billion.
View our NSW Budget 2023-24 debt investor update in English and Japanese.

2023-24 NSW State Budget


Funding task FY24 Budget forecast A$ billion

(19 September 2023)

FY24 HYR forecast A$ billion

(14 December 2023)

FY25 HYR forecast A$ billion

(14 December 2023)

FY26 forecast A$ billion

(14 December 2023)

FY27 forecast A$ billion

(14 December 2023)

New client loans 15.3 16.7 15.6 17.1 18.3
Term maturities 7.6 7.6 8.9 11.4 11.8
Funding requirement 22.9 24.3 24.5 28.5 30.1
FY24 term funding completed as at 14 December 2023 14.4
Remaining client funding requirement for FY24 9.9
Source: TCorp, NSW Treasury

Investor pack

To find out more about TCorp's Funding Programme, read our 2022-23 Mid-year debt investor update in English and Japanese.

Strong credit ratings for NSW

TCorp pays respect to the Traditional Custodians and First Peoples of NSW and acknowledges their continued connection to country and culture.