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Territory Bonds
The Corporation is the Central Financing Authority for the NT Government and is responsible for meeting its borrowing and investment requirements.
The Corporation undertakes borrowing on behalf of the NT Government to meet its funding requirements and those of the Government Business Divisions, Government Owned Corporations and local authorities. The Corporation seeks to diversify its borrowing by using a variety of funding sources and maturities.
NTTCorp's debt profile and financial products.
The Corporation currently has five institutional bond issues:
| Maturity Date | Coupon | Amount on issue |
| 14 July 2009 | 6.75% | A$279.2 million |
| 15 September 2010 | 5.75% | A$305.0 million |
| 15 November 2011 | 6.00% | A$325.0 million |
| 15 September 2012 | 6.25% | A$300.0 million |
| 15 October 2013 | 6.75% | A$100.0 million |
Private placements have been used by the Corporation for a number of years to satisfy specific funding needs and to tap into an alternative area of demand away from the large issues of homogenous debt, issued by the larger Central Financing Authorities. This funding source is attractive because of the ease of issuance for small parcels of debt and the ability to respond to domestic market movements and investor demand. Parcel sizes vary from $5 million to $50 million with terms ranging from 1 to 25 years.
Short term funding is provided from the issue of Promissory Notes on a tender basis using ASX Austraclear Services Ltd as the issuing, lodging, recording and paying agent.
The Reserve Bank of Australia includes Australian dollar denominated securities issued by the Central Financing Authorities of the State and Territory Governments and lodged in Austraclear, as eligible for Prime Asset Ratio (PAR) requirements.
The Corporation’s EMTN programme was launched in June 1995, and refreshed in March 2001. The EMTN programme is the Corporation's preferred method of raising funds internationally due to its standardised documentation, relative ease of issuance and market profile.
As at 30 June 2007, the Corporation no longer has any notes outstanding under its EMTN programme. The last of these securities matured in October 2006.
Territory Bonds is the Corporation's retail fixed interest borrowing product, which is used to seek funds from the general public. Territory Bonds is specifically designed for retail investors seeking a safe and secure Government guaranteed investment. Territory Bonds have been issued every year since 1979 and as at 30 June 2007 had over $170 million outstanding.
The Corporation continues to offer Territory Bonds as a designated investment to people seeking to migrate to Australia under schemes made available by the Australian Department of Immigration and Citizenship (DIAC).
Territory Bonds comply with guidelines issued by DIAC and therefore qualify as a designated investment under each of the following visa classes:
| - | General Skilled Migration; |
| - | Business Skills; and |
| - | Investor Retirement. |
The Corporation is responsible for managing the NT Government's investment portfolio. This portfolio represents the pooled cash balances of the Government bank accounts and is invested in a variety of secure short, medium and long term debt securities issued in the Australian financial markets.
| General Manager | John Montague | +61 8 8999 7975 |
| Manager Financial Assets and Liabilities | Alex Pollon | +61 8 8999 6318 |