Page 1167 - Week 04 - Thursday, 21 May 2020
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made available for students that do not have access to the internet at home during the COVID-19 pandemic.
The ACT Government continues of offer freely accessible wifi through hundreds of access points on the CBRfree network across the city. Individuals accessing the network are of course reminded to observe social distancing principles.
3) Internet access is an extremely valuable and important part of modern life. The Government will however continue to provide a variety of ways for people to receive important information and engage with government and community supports and services.
COVID-19 pandemic––economy
(Question No 2973)
Ms Le Couteur asked the Treasurer, upon notice, on 3 April 2020:
(1) What is the interest rate/s on the most recent borrowings undertaken by the ACT Government.
(2) What is the expected interest rate/s on the ACT Government borrowings required as a result of the COVID-19 emergency stimulus packages.
(3) What are the credit spreads (ie additional interest rate) the ACT Government would be likely to face if its credit ratings were downgraded (due to either a Federal Government downgrade or ACT Government downgrade) due to present economic circumstances.
(4) Has the ACT Government received any advice on the additional amount of debt that would trigger a ratings downgrade; if so, what is that amount.
Mr Barr: The answer to the member’s question is as follows:
(1) Details of the 2019-20 year to date long-term borrowing transactions are:
|
Transaction 1 |
Transaction 2 | |
|
Pricing Date |
13 August 2019 |
16 October 2019 |
|
Maturity Date |
22 May 2025 |
23 October 2031 |
|
Issue Yield (Interest Rate) |
1.16 per cent |
1.845 per cent |
|
Coupon |
1.25 per cent |
1.75 per cent |
|
Volume (Face value) |
$1 billion |
$1 billion |
|
Transaction 3 |
Transaction 4 | |
|
Pricing Date |
8 April 2020 |
8 April 2020 |
|
Maturity Date |
17 April 2023 |
22 May 2029 |
|
Issue Yield (Interest Rate) |
0.86 per cent |
1.785 per cent |
|
Coupon |
1.00 per cent |
2.25 per cent |
|
Volume (Face value) |
$1.1 billion |
$225 million |
(2) Actual interest rate(s) will depend on the maturity term(s) of issued bonds and the prevailing financial market conditions at the time of issue.
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