TCorp bonds

Benchmark bonds

Large and liquid domestic bonds that are actively traded in the financial markets.

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Non-benchmark bonds

NSW Government bonds for international investors with a range of currencies and maturities.

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Short Term Programme

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

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Sustainability bonds

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

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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$187 billion.

2024-25 NSW State Budget - debt investor update

View our debt investor update for 2024-25.

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2024-25 NSW State Budget

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Funding task	FY25 forecast A$ billion	FY26 forecast A$ billion	FY27 forecast A$ billion	FY28 forecast A$ billion
New client loans	13.4	15.2	13.9	14.0
Term maturities	8.9	11.5	12.4	16.7
Funding requirement	22.3	26.7	26.3	30.7

_{Forecasts expressed in capital value as at 18 June 2024. Numbers rounded to the nearest A$100 million.}

_{Source: TCorp, NSW Treasury}

Strong credit ratings for NSW

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	Long term Australian currency	Long term foreign currency	Short term
Moody's	Aaa (stable)	Aaa (stable)	Prime-1
Fitch	AAA (stable)	AAA (stable)	F1+
Standard & Poor's	AA+ (stable)	AA+ (stable)	A-1+

Institutional investors

Benchmark bonds

Non-benchmark bonds

Short Term Programme

Sustainability bonds

TCorp’s Funding Programme

2024-25 NSW State Budget - debt investor update

2024-25 NSW State Budget

Strong credit ratings for NSW

2024-25 NSW Budget debt investor update