❓ A WA parliamentary question seeks details on the state government's debt, interest rates, and credit rating as of June 30, 2008. The Treasurer provides a detailed response regarding WATC's debt and Commonwealth borrowings.
AnsweredQoN 98Legislative Assembly
QuestionView source ↗
(1) What is the total borrowed funds (debt) of the state government as at June 30, 2008 and the average interest rate applicable?
(2) What percentage of the above was borrowed with a Triple A credit rating?
(3) For individual borrowings over $500 million will the Treasurer list those loans separately along with the applicable interest rate and the loan provider?
(2) What percentage of the above was borrowed with a Triple A credit rating?
(3) For individual borrowings over $500 million will the Treasurer list those loans separately along with the applicable interest rate and the loan provider?
AnswerView source ↗
Answered
10 December 2008
Response time
28 days
(1) Over 99% of the State's borrowings are currently raised through, and managed by, the Western Australian Treasury Corporation ("WATC"). As at 30 June 2008, the face value of WATC's debt was $14.019 billion. The average interest rate paid on WATC's borrowings during 2007/08 was 6.4%.
As at 30 June 2008, the State also held around $510 million in borrowings sourced from the Commonwealth. This debt represents specific purpose loans e.g. under housing agreements, and has a weighted average effective interest rate of 4.2%
(2) All long term borrowings by WATC are guaranteed by the State and are rated as follows:
Standard & Poors
Moody's Investors Service
Long Term
AAA
Aaa
Short Term
A1+
P-1
(3) Whilst WATC has a number of benchmark bond lines of over $1 billion, which it issues into on a tap basis, none of its outstanding debt as at 30 June 2008 was raised through individual borrowings of over $500 million.
Notice: This document is created or edited using unregistered or evaluation copy of rtLib valid for testing or development purposes only. To use it for productive or any other purposes please register it. You may purchase the license on
http://www.rtlib.com
As at 30 June 2008, the State also held around $510 million in borrowings sourced from the Commonwealth. This debt represents specific purpose loans e.g. under housing agreements, and has a weighted average effective interest rate of 4.2%
(2) All long term borrowings by WATC are guaranteed by the State and are rated as follows:
Standard & Poors
Moody's Investors Service
Long Term
AAA
Aaa
Short Term
A1+
P-1
(3) Whilst WATC has a number of benchmark bond lines of over $1 billion, which it issues into on a tap basis, none of its outstanding debt as at 30 June 2008 was raised through individual borrowings of over $500 million.
Notice: This document is created or edited using unregistered or evaluation copy of rtLib valid for testing or development purposes only. To use it for productive or any other purposes please register it. You may purchase the license on
http://www.rtlib.com
Explore WA Government Data
Search the full archive in the free dashboard, or query programmatically via API.
Explore more
Government Gazette
Appointments, regulatory notices, planning changes.
Hansard
Debates, questions, speeches and sentiment.
Tabled Papers
Reports and documents tabled in Parliament.
Committees
Committee profiles and recent reports.
Regulations
Subsidiary legislation with filters and summaries.
Bills
Proposed laws and parliamentary progress.
Acts
Current WA legislation and summaries.
Explanatory Memoranda
Bills with EMs (text/PDF) available.
Members
MP profiles, party breakdown and rankings.
Pollie Rankings
Data-driven rankings across 19 categories.
Amendment Chains
Track how schemes and regulations evolve over time.