EXHIBIT (d)
Securities of the Registrant Outstanding as of
June 30, 2007
Outstanding Indebtedness of QTC (Face Value)
Maturity Analysis
| | | | | | | | | | | | | | | |
| | | As at June 30, 2007 |
| | 0-3 months | | 3-12 months | | 1-5 years | | Over 5 Years | | TOTAL |
| | (in $ millions) |
Offshore Debt (1) | | | 1423 | | | 202 | | | 4971 | | | 5444 | | | 12040 |
Domestic Debt (2)(3) | | | 1955 | | | 194 | | | 11232 | | | 7420 | | | 20801 |
TOTAL ($M) | | $ | 3378 | | $ | 396 | | $ | 16203 | | $ | 12864 | | $ | 32841 |
(1) | These totals have been translated into Australian dollars at a rate of exchange applicable at the balance date and do not include the net effect of currency swaps and forward currency contracts. They include US$189 million outstanding under the Corporation’s United States and European commercial paper facilities as at 30 June 2007 (2006: US$80.8 million and US$135 million outstanding under a Euro Medium-Term Note facility as at 30 June 2007 (2006: US459 million). |
(2) | Maturities of discounted loans are included at face value. |
(3) | These totals include A$380 million outstanding under the Corporation’s Australian dollar Treasury note facility as at 30 June 2007 (2006: A$Nil million). |
Government Debt
At the end of this exhibit is a list of all outstanding debt issued by QTC.
Other Guaranteed Debt and Contingent Liabilities
Under the provisions of the Act and the Statutory Bodies Financial Arrangements Act 1982 (as amended by the Statutory Bodies Financial Arrangements Amendment Act 1996), financial arrangements entered into by a statutory body may be guaranteed by the Treasurer on behalf of the Government of Queensland. That legislation also preserves similar guarantees given under legislation that it replaced. In addition, the Industrial Development Act 1963 preserves guarantees of borrowings of other bodies made under the Industrial Development Act 1963-1981. Guarantees are also given in respect of borrowings made by Co-operative Housing Societies which on-lend funds for home purchase.
The Queensland Government also guarantees all insurance policies issued prior to December 1, 1996 by the Suncorp Insurance and Finance Corporation (“Suncorp”). Suncorp, together with Suncorp Building Society and Queensland Industry Development Corporation merged with Metway Bank Limited with effect from December 1, 1996. Pursuant to the provisions of the State Government Institution and Metway Merger Facilitation Act 1996, all insurance policies (principally concerning life insurance, general insurance and superannuation) issued by Suncorp prior to December 1, 1996 will continue to be guaranteed by the Queensland Government.
The State’s contingent liabilities on account of guaranteed debt (other than the debt detailed under Queensland Treasury Corporation) equates to approximately $3 billion as at 30 June 2007.
(d)-1
Exchange Rate of the Australian Dollar
Exchange rates for the major currencies in which debt of Queensland Treasury Corporation and Queensland is denominated, expressed as an Australian dollar against the foreign currency equivalent are shown in the table below:
| | | | | | | | | | |
Currency As at June 30 | | 2002-03 | | 2003-04 | | 2004-05 | | 2005-06 | | 2006-07 |
US Dollar | | 0.6674 | | 0.6889 | | 0.7637 | | 0.7433 | | 0.8487 |
Japanese Yen | | 79.99 | | 74.82 | | 84.14 | | 85.11 | | 104.70 |
Swiss Franc | | 0.9025 | | 0.8721 | | 0.9778 | | 0.9150 | | 1.0453 |
Pounds Sterling | | 0.4038 | | 0.3815 | | 0.4224 | | 0.4049 | | 0.4236 |
Euro | | 0.5840 | | 0.5702 | | 0.6315 | | 0.5841 | | 0.6311 |
NZ Dollar | | 1.1454 | | 1.0970 | | 1.0907 | | 1.2159 | | 1.1025 |
Source: Reserve Bank of Australia
(d)-2
OUTSTANDING DOMESTIC A$ INDEBTEDNESS AS AT JUNE 30, 2007*
| | | | | | |
DOMESTIC DEBT (Australian Financial Year) Coupon Rate (% per annum) | | Face Value (in dollars) | | Market Value (in dollars) | | Date of Maturity |
8.00 | | 1,821,799,000.00 | | 1,870,414,878.88 | | September 14, 2007 |
6.00 | | 3,701,785,000.00 | | 3,758,005,415.12 | | July 14, 2009 |
5.50 | | 2,969,295,000.00 | | 2,897,482,342.30 | | May 14, 2010 |
6.00 | | 3,658,758,000.00 | | 3,576,308,130.93 | | June 14, 2011 |
6.00 | | 2,608,486,000.00 | | 2,578,253,727.69 | | August 14, 2013 |
6.00 | | 2,122,936,000.00 | | 2,061,766,132.45 | | October 14, 2015 |
6.00 | | 1,738,045,000.00 | | 1,687,899,929.94 | | September 14, 2017 |
6.00 | | 578,182,000.00 | | 549,706,598.33 | | June 14, 2021 |
2.75 | | 277,594,400.00 | | 277,090,376.90 | | June 14, 2011 |
Zero | | 336,373,537.46 | | 259,092,990.00 | | June 14, 2011 |
Various | | 513,704,390.93 | | 511,760,973.26 | | Various 2007 |
Various | | 255,016,983.59 | | 253,132,049.47 | | Various 2008 |
Various | | 114,848,150.00 | | 113,548,754.90 | | Various 2009 |
Various | | 51,798,700.00 | | 51,098,994.85 | | Various 2010 |
Various | | 36,750,000.00 | | 36,499,448.62 | | Various 2011 |
Various | | 2,340,700.00 | | 2,413,399.72 | | Various |
Various | | 1,695,618.00 | | 1,763,084.54 | | Various |
Various | | 11,829,520.00 | | 14,043,589.68 | | Various |
Total Domestic A$ Indebtedness | | 20,801,237,999.98 | | 20,500,280,817.58 | | |
OUTSTANDING FOREIGN CURRENCY DENOMINATED OFFSHORE INDEBTEDNESS OF
QUEENSLAND TREASURY CORPORATION (CP’s)
As at June 30, 2007
(at Face Value)
| | | | | | | | | | | |
Year of Issue | | Currency | | Amount | | Coupon | | | Maturity | | A$ Market
Valuation |
2007 | | EUR | | 14,000,000.00 | | 3.800 | % | | Oct 16, 2007 | | 21,879,536.10 |
2006 | | HKD | | 215,000,000.00 | | 3.952 | % | | Aug 07, 2007 | | 32,222,852.92 |
2007 | | SGD | | 26,000,000.00 | | 2.392 | % | | Aug 07, 2007 | | 19,916,761.72 |
2006 | | USD | | 10,000,000.00 | | 5.23 | % | | July 13, 2007 | | 11,746,673.10 |
2007 | | USD | | 99,000,000.00 | | 5.18 | % | | Oct 31, 2007 | | 114,416,050.74 |
2007 | | USD | | 10,000,000.00 | | 5.17 | % | | Nov 02, 2007 | | 11,553,780.76 |
2007 | | AUD | | 7,750,000.00 | | 6.13 | % | | Sept 04, 2007 | | 7,664,798.45 |
| | | | | |
Total | | | | | | | | | | | 219,400,453.79 |
(d)-3
OUTSTANDING AUSTRALIAN DOLLAR DENOMINATED OFFSHORE DEBT OF
QUEENSLAND TREASURY CORPORATION
GLOBAL A$ BONDS AUD
as at June 30, 2007
| | | | | | |
Interest Coupon | | Maturity Date | | Face Value(A$) | | Market Value(A$) |
8% | | Sept. 14, 2007 | | 1,351,086,000.00 | | 1,387,140,599.49 |
6% | | July 14, 2009 | | 1,997,628,000.00 | | 2,027,935,283.81 |
5.5% | | May 14, 2010 | | 1,104,000,000.00 | | 1,077,337,283.12 |
6% | | June 14, 2011 | | 1,887,283,000.00 | | 1,844,711,656.39 |
6% | | Aug 14, 2013 | | 1,780,587,000.00 | | 1,759,932,112.33 |
6% | | Oct 14, 2015 | | 2,669,024,000.00 | | 2,592,017,303.85 |
6% | | Oct 14, 2017 | | 869,455,000.00 | | 844,355,051.70 |
| | | |
TOTAL | | | | 11,659,063,000.00 | | 11,533,429,290.69 |
A$ EURO-MEDIUM TERM NOTES
as at June 30, 2007
| | | | | | | | | |
Year of Issue | | Coupon Rate | | | Maturity Date | | Face Value(A$) | | Market Value(A$) |
2005 | | 5.01 | % | | August 26, 2009 | | 25,000,000.00 | | 24,505,564.88 |
2005 | | 12.00 | % | | June 7, 2013 | | 45,000,000.00 | | 56,251,948.54 |
2003 | | 4.52 | % | | April 14, 2008 | | 20,600,000.00 | | 20,458,599.74 |
2003 | | 4.57 | % | | May 19, 2008 | | 31,300,000.00 | | 30,898,460.24 |
2003 | | 12.0 | % | | September 14, 2009 | | 15,000,000.00 | | 17,070,705.09 |
2003 | | 0.50 | % | | May 19, 2010 | | 2,000,000.00 | | 18,452,735.58 |
| | | | | | | | | |
| | TOTAL | | | | | 158,900,000.00 | | 167,638,014.07 |
| | | | | | | | | |
(d)-4
