Funding Requirement

TCV 2009-2010 Funding Requirement
TCV has a funding requirement of $5.635 billion for the financial year ending 30 June 2010.

Funding program for 2009-10:
	($A million)
TCV refinancing	965
New client funding	6,670
Total	7,635
Less internally generated funds	-2,000
Net call on market	5,635

It is expected that the majority of debt raisings will be centralised within the Domestic Inscribed Stock program, although TCV will consider opportunities to issue into offshore markets as they arise.

TCV maintains four key borrowing programs to facilitate its debt management activities. These are:

• Long-term financing:
- TCV Domestic Inscribed Stock (domestic bonds) program
- Euro Medium Term Notes program

• Short-term financing:
- Domestic Promissory Notes program
- Euro Commercial Paper program.

Top