Northern Territory Treasury Corporation Annual report 2013-2014
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65Annual Report 2014 Notes to the Financial Statements For the financial year ended 30June2014 Note 16 continued NTTC has limited funding risk, as the Territory Government supports the financial viability of NTTC under section 20of the NTTC Act. Such a Government guarantee is believed to be sufficient to allow NTTC to issue debt at competitive rates under normal market conditions. NTTCs current funding sources are as follows: Wholesale market Fixed interest securities Floating rate notes Promissory notes Retail market Territory Bonds Migration Linked Bonds Wholesale market issues account for approximately $4.73 billion (2013: $4.34 billion) or 98percent (2013:97percent) of all outstanding issued debt as at 30June2014and generally, there has been a strong support by these investors for reinvesting with NTTC at maturity. Borrowing from the retail market is primarily sourced via the Territory Bonds program. As at 30June2014, $101.4 million (2013: $107.6million) of TerritoryBonds was issued and spread across a large number of investors approximately 5191 (2013:6077) at an average loan balance of $19 532 (2013:$17701). NTTC constantly monitors credit markets and maintains key investor relationships to ensure there is sufficient diversification of available funding sources.