EXHIBIT (d)
Securities of the Registrant Outstanding as of
June 30, 2003
Outstanding Indebtedness of QTC (Face Value)
Maturity Analysis
0-3 3-12 1-5 Over 5
months months years years TOTAL
------ ------ ----- ------ ------
2003 (in $ millions)
Offshore Debt (1) 654 560 2978 2573 6765
Domestic Debt (2)(3) 1701 146 6326 5934 14107
Total ($M) $2355 $706 $9304 $8507 $20872
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$600
million outstanding under the Corporation's United States and European
commercial paper facilities as at June 30, 2003.
2. Maturities of discounted loans are included at face value.
3. These totals include A$1,045 million outstanding under the Corporation's
Australian dollar Treasury note facility as at June 30, 2003.
Government Debt
At the end of this prospectus is a list of all outstanding debt issued by QTC.
Other Guaranteed Debt and Contingent Liabilities
Under the provisions of the Act and the Statutory Bodies Financial Arrangements
Act 1982 (as amended by the Statutory Bodies Financial Arrangements Amendment
Act 1996), financial arrangements entered into by a statutory body may be
guaranteed by the Treasurer on behalf of the Government of Queensland. That
legislation also preserves similar guarantees given under legislation that it
replaced. In addition, the Industrial Development Act 1963 preserves guarantees
of borrowings of other bodies made under the Industrial Development Act
1963-1981. Guarantees are also given in respect of borrowings made by
Co-operative Housing Societies which on-lend funds for home purchase.
(d)-1
The following table indicates the State's contingent liabilities on account of
such guaranteed debt at the end of the five fiscal years to 2001-02.
Summary of Debt Outstanding of Departments, Treasury,
Local Authorities, Statutory and Other Bodies
(other than that debt detailed under Queensland Treasury Corporation)
As at 30 June,
-------------------------------------
Year 1999 2000 2001 2002 2003
- ----------------- ----- ----- ----- ----- -----
Local Authorities 4 6 4 3 3
Consolidated Fund -- -- -- -- --
Others/(1)/ 2425 2331 2266 2524 2291
Total ($M) $2429 $2337 $2270 $2527 $2294
/(1)/ This table includes the Government liabilities under various loan
facilities provided by the Corporation in conjunction with the 1996-97 merger of
Suncorp Insurance and Finance and Queensland Industry Development Corporation
with Metway Bank Limited, and contingent liability arising from the State's
guarantee for policies or contracts of insurance or indemnity under the Suncorp
Insurance and Finance Act.
The Queensland Government also guarantees all insurance policies issued prior to
December 1, 1996 by the Suncorp Insurance and Finance Corporation ("Suncorp").
Suncorp, together with Suncorp Building Society and Queensland Industry
Development Corporation merged with Metway Bank Limited with effect from
December 1, 1996. Pursuant to the provisions of the State Government Institution
and Metway Merger Facilitation Act 1996, all insurance policies (principally
concerning life insurance, general insurance and superannuation) issued by
Suncorp prior to December 1, 1996 will continue to be guaranteed by the
Queensland Government.
The obligations of Suncorp under such insurance policies are funded on an
actuarial basis or reinsured by Suncorp, pursuant to management guidelines.
Accordingly, no figures for contingent liabilities have been included for
Suncorp.
Exchange Rate of the Australian Dollar
Exchange rates for the major currencies in which debt of Queensland Treasury
Corporation and Queensland is denominated, expressed as an Australian dollar
against the foreign currency equivalent are shown in the table below:
Currency
As at June 30, 1998-99 1999-2000 2000-01 2001-02 2002-03
- --------------- ------- --------- ------- ------- -------
US Dollar 0.6611 0.5971 0.5100 0.5628 0.6674
Japanese Yen 79.95 63.38 63.61 67.45 0.7999
Swiss Franc 1.0283 0.9743 0.9164 0.8397 0.9017
Pounds Sterling 0.4193 0.3946 0.3623 0.3692 0.4038
Euro 0.6379 0.6882 0.6002 0.5715 0.5840
Source: US Federal Reserve Board.
(d)-2
OUTSTANDING DOMESTIC A$ INDEBTEDNESS AS AT JUNE 30, 2003*
- -------------------------------------------------------------------------------
Domestic Debt
(Australian Financial Year)
Coupon Rate Face Value Market Value
(% per annum) (in dollars) (in dollars) Date of Maturity
- ------------- ---------------- ----------------- ------------------
6.50 2,888,215,000.00 2,996,190,502.53 June 15, 2005
8.00 3,324,567,000.00 3,756,023,601.07 September 15, 2007
6.00 1,976,300,000.00 1,702,864,685.32 July 15, 2009
6.00 2,162,250,000.00 1,885,546,598.27 June 15, 2011
6.00 2,017,000,000.00 1,664,899,836.54 August 14, 2013
6.00 318,600,000.00 342,857,718.82 October 15, 2015
6.00 366,340,000.00 392,098,018.89 June 15, 2021
Various 5,264,066.94 6,706,017.15 Various
Various 252,740,933.58 257,897,289.33 Various
Various 500,000,000.00 504,523,947.05 October 18, 2003
Zero 117,795,516.01 77,983,745.19 June 14, 2011
Zero 218,578,021.45 149,577,419.66 June 14, 2011
5.82 28,000,000.00 30,117,774.74 May 6, 2004
4.68 235,000.00 239,327.54 August 6, 2003
Various 17,817,950.00 22,041,207.50 Various
Various 1,045,000,000.00 1,041,671,825.45 Various
Various 1,613,300.00 1,613,300.00 Various
Total Domestic A$ 14,832,852,815.05
Indebtedness
(d)-3
OUTSTANDING FOREIGN CURRENCY DENOMINATED OFFSHORE INDEBTEDNESS OF
QUEENSLAND TREASURY CORPORATION
June 30, 2003
(at Face Value)
A$
Year of Issue Currency Amount Coupon Maturity Market Valuation
- ------------- -------- -------------- ------- ---------------- ----------------
1994 JPY 8,000,000,000 4.0 April 6, 2004 103,987,921.28
1995 JPY 10,000,000,000 4.56% July 22, 2004 136,336,426.10
2003 JPY 10,612,100,000 0.00% October 21, 2003 132,694,621.12
2003 USD 304,000,000 Euro-CP Various 453,844,406.03
USD 135,000,000 US-CP Various 202,173,838.50
HKD 275,000,000 Euro-CP Various 52,723,163.31
NZD 10,000,000 Euro-CP Various 8,731,327.81
EUR 75,000,000 Euro-CP Various 127,118,246.34
Accrued Interest Net Swaps and Forwards Outstanding (244,248,996.66)
----------------
Total $ 973,360,953.83
----------------
(d)-4
OUTSTANDING AUSTRALIAN DOLLAR DENOMINATED OFFSHORE DEBT OF
QUEENSLAND TREASURY CORPORATION
GLOBAL A$ BONDS AUD
as at June 30, 2003
Year of
Issue Currency Interest Coupon Maturity Date Face Value(A$) Market Value(A$)
- ------- -------- --------------- -------------- ----------------- -----------------
6.5% June 14, 2005 1,488,850,000.00 1,548,173,714.18
8% Sept. 14, 2007 733,132,000.00 817,149,077.20
6% July 14, 2009 1,255,251,000.00 1,376,653,765.53
6% Jun 14, 2011 890,307,000.00 943,126,848.18
6% Aug 14, 2013 505,447,000.00 546,531,725.42
----------------- -----------------
Total $4,872,987,000.00 $5,231,635,130.59
----------------- -----------------
A$ EURO-COMMERCIAL PAPER
as at June 30, 2003
Year of Face Market
Issue Currency Coupon Maturity Date Value(A$) Value(A$)
- ------- -------- ------- ------------- -------------- --------------
2003 AUD Euro-CP Various 133,500,000.00 132,232,929.41
A$ EURO-MEDIUM TERM NOTES
as at June 30, 2003
Market
Year of Issue Coupon Rate Maturity Date Face Value(A$) Value(A$)
- ------------- ----------- ------------------ --------------- ---------------
1994 12.0% June 15, 2005 20,000,000.00 22,832,481.77
2003 4.406% November 30, 2006 82,000,000.00 81,265,403.46
2002 5.55% April 24, 2007 120,000,000.00 134,542,888.30
2003 4.52% April 14, 2008 76,000,000.00 75,296,110.43
2003 4.57% May 19, 2008 100,000,000.00 98,790,100.45
2003 12.0% September 14, 2009 70,000,000.00 98,079,459.52
2003 0.50% May 19, 2010 75,000,000.00 54,932,300.94
--------------- ---------------
Total $543,000,000.00 $565,738,744.87
--------------- ---------------
(d)-5
US$ EURO-MEDIUM TERM NOTES
as at 30 June 2003
Market Value
Year of Issue Coupon Rate Maturity Date Face Value (A$) (A$)
- ------------- ----------- ------------- --------------- ------------
US-MEDIUM TERM NOTES
as at 30 June 2003
Year of Issue A$
Denominated Coupon Rate Maturity Date Face Value Market Value
- ---------------- ----------- ------------- ---------- ------------
US$ Denominated Nil Nil
QUEENSLAND TREASURY CORPORATION DEBT UNDER THE
COMMONWEALTH SAVINGS BANK AGREEMENT
at June 30, 2003
Interest Rate Principal Amount Market Value
Year of Issue (% per annum) (in dollars) (in dollars) Maturity Date
- ------------- ------------- ---------------- --------------- -------------
Various 19,528,010.97 19,749,046.65 01-Jul-2003
Various 265,251.30 266,264.89 01-Oct-2003
Various 57,079,559.66 57,725,637.72 02-Jan-2004
Various 36,496,114.62 36,635,574.78 01-Apr-2004
Various 183,602.55 184,304.14 01-Oct-2004
Various 67,466,190.46 67,723,994.51 01-Apr-2005
--------------- ---------------
Total $181,018,729.56 $182,284,822.69
--------------- ---------------
(d)-6