On 15 March 2017, QTC issued an inaugural AUD750 million 7 year Green Bond with a coupon of 3.00 per cent. This was the largest and longest tenor AUD green bond issuance from an Australian issuer at the time. QTC Green Bonds are guaranteed by the Queensland State Government, issued under the AUD Bond Program.
QTC intends to use the proceeds of the bond to finance nominated projects and assets falling under the following categories:
• Renewable Energy – Solar
• Low Carbon Transport – Electrified Rail Infrastructure
• Low Carbon Transport – Cycle Ways
This was the second Australian state to issue a Certified Climate Bond, after Victoria state.
In March 2019, QTC issued their second green bond. At the time of issuance, this is the second-largest green bond priced in the Australian market, behind New South Wales Treasury Corporation (TCorp)’s A$1.8 billion, 10-year green bond from November 2018.
More information about the Queensland Government's climate change policies
|DATE OF ISSUE||TYPE OF INSTRUMENT||SIZE||TENOR||COUNTRY OF ISSUE||CLIMATE BONDS SECTOR CRITERIA||VERIFIER'S REPORT
|ANNUAL REPORT||FURTHER INFORMATION|
|March 2017||Use of proceeds bond||AUD 750m (USD 576m)||7 years||Australia||Solar, Low Carbon Transport||
Overview of QTC green bond plans 2017
|March 2019||Use of proceeds bond||AUD 1.73 billion (USD 1.16 bn)||10 years||Australia||Low Carbon Transport||2020 annual report|
|November 2020||Use of proceeds bond||AUD 1.5 billion (USD 1.09 bn)||11 years||Australia||Low Carbon Transport||uses above pre issuance verification||news article|
note 1: As this is a programmatic certification, the pre issuance verification report is the same for all subsequent bonds after the first one