Queensland has become the first Australian state to issue a Euro-denominated financial security, in a move to attract a new investor pool leading into the Brisbane 2032 Games.
Treasurer David Janetzki said the State’s central financing authority, Queensland Treasury Corporation (QTC), this month issued a new EUR 1.25 billion (~AUD 2.15 billion) benchmark bond.
Treasurer Janetzki said the landmark deal, which was a topic of discussion during a meeting with State and Territory Treasurers last Friday (May 23), attracted significant interest with orders more than seven times the issuance amount.
“The broad-based interest in the deal demonstrates the European market recognises we are open for business and it underscores the global appeal of the State’s financial stability and long-term growth prospects,” he said.
“A diversified and well-managed long-term funding program ensures we can continue to invest in vital infrastructure and services including the Olympics, drive economic growth and improve the quality of life for all Queenslanders.”
QTC’s Acting CEO Susan Buckley said the deal was of strategic importance.
“Issuing in non-Australian dollars has been an important evolution in QTC’s long term funding strategy and is aligned with our strategic goal to diversify and expand our investor base,” Ms Buckley said.
“Foreign currency issuance aims to attract new investors and potentially allows QTC to tap into different pools of money of existing investors.”
