Offshore bond investors
The Local Government Act 2009 (amended in September 2011) allows us to borrow in foreign currency.
- a USD 5 billion Secured Medium Term Notes Programme
- an AUD 1 billion Australian Debt Issuance Programme
- a USD 2 billion Secured Euro Commercial Paper Programme.
This allows multi currency borrowings in offshore markets.
The USD Secured Medium Term Note Programme is listed on the Singapore Stock Exchange .
All foreign currency borrowings are fully hedged to eliminate currency fluctuations.
Offshore investors, like domestic investors, receive the benefit of the charge over our rates and rates revenue as security.