Debt Investors

This Debt Investor section provides an overview of Scentre Group's debt profile, liquidity and debt management.

CREDIT RATING

S&P'S LONG TERM RATING A (OUTLOOK STABLE)
S&P'S SHORT TERM RATING A-1
MOODY'S LONG TERM RATING A2 (OUTLOOK STABLE)
MOODY'S SHORT TERM RATING P-1
FITCH'S LONG TERM RATING A (OUTLOOK STABLE)
FITCH'S SHORT TERM RATING F1

Terms of use

The information and materials contained in or referred to in the materials on, and accessed through, this web page (together, the “website”) in relation to Scentre Group and its funding programs and debt instruments is provided for information and as a matter of record only and is for distribution only to persons entitled to access this website under all applicable laws, regulations and directives in all applicable jurisdictions.

Nothing on this website should be construed as an offer to sell, an invitation to offer to buy or an inducement or recommendation to buy or sell any Scentre Group securities.  This website is not intended to constitute investment or other advice, should not be relied on in connection with any investment decision or for any other purpose, and will not form part of any contract with Scentre Group.

Scentre Group does not warrant the fairness, accuracy, adequacy or completeness of this website. To the maximum extent permitted by law, Scentre Group and its directors, employees, agents and consultants disclaim all liability for any loss or damage arising from the use of, or reliance on, this website whether or not caused by any negligent act or omission.  Information and materials on this website are provided on an "as is" basis, and Scentre Group expressly disclaims any obligation to update any of it, and cautions that this website may not be complete, adequate or up-to-date.

The materials and information on this website that refers or relates to securities offerings by Scentre Group does not constitute an offer to sell or the solicitation of an offer to buy securities as those terms are defined in the U.S. Securities Act of 1933 (the "U.S. Securities Act"). The securities offered in those offerings have not been and will not be registered under the U.S. Securities Act, and may not be offered, sold or delivered within the United States or to U.S. Persons (as defined in Regulation S under the Securities Act) absent registration under the U.S. Securities Act or an applicable exemption from the registration requirements.

The credit ratings that appear on this website are provided for use by persons who are not a retail client (as defined for the purposes of the Corporations Act 2001 (Cth)) only and must not be used, and Scentre Group does not intend or authorise their use, in the support of or in relation to the marketing of financial products to retail clients in Australia.

In these Terms of Use, "Scentre Group" means each member of the group comprising each of Scentre Group Limited, Scentre Group Trust 1, Scentre Group Trust 2 and Scentre Group Trust 3 and each of their respective subsidiaries.

By accessing this website you agree to these Terms of Use.

I Agree

Funding sources

AS AT 31 DECEMBER 2021

Diversified funding including bonds and bank facilities

Liquidity


%$bn
Senior Bonds

USD22%4.3
EUR20%3.9
GBP8%1.5
HKD1%0.1
Total51%9.8



Bank Facilities

Drawn4%0.8
Undrawn24%4.6
Total28%5.4
Total Debt Facilities79%15.2



Subordinated Notes

USD21%4.1
Total Funding100%19.3
Less Drawn Facilities
(14.7)
Plus Cash
1.0
Total Liquidity
5.6


Debt Capital Markets Information

AS AT 31 DECEMBER 2021

TYPEISSUE DATEMATURITY DATEFIXED / FLOATINGCOUPON

AMOUNT
(ISSUE CURRENCY - MILLION) 

AMOUNT
(A$ MILLION HEDGED)
SENIOR DEBT   
EMTN8-APR-158-APR-221FIXED2.375%£ 400$778
A$MTN4-JUL-124-JUL-22FIXED6.00%$30$30
EMTN15-MAR-1622-MAR-23FIXED1.375%€ 500$745
EMTN11-SEP-1311-SEP-23FIXED3.25%€ 500$720
EMTN16-JUL-1416-JUL-24FIXED2.25%€ 600$869
144A12-NOV-1412-FEB-25FIXED3.50%USD600$700
144A28-APR-1528-OCT-25FIXED3.25%USD500$649
144A28-MAY-2028-JAN-26FIXED3.625%USD750$1,147
EMTN16-JUL-1416-JUL-26FIXED3.875%£ 400 $728
144A23-MAR-1723-MAR-27FIXED3.75%USD500$652
EMTN11-APR-1811-APR-28FIXED1.75%€ 500$796
EMTN28-MAR-1928-MAR-29FIXED1.45%€ 500$798
EMTN29-APR-2029-APR-30FIXED2.85%HKD400$81
144A28-MAY-2028-MAY-30FIXED4.375%USD750$1,145
     SUB TOTAL$9,838
       
SUBORDINATED NOTES   
144A24-SEPT-2024-SEPT-80FIXED4.75%USD1,500$2,058
144A24-SEPT-2024-SEPT-80FIXED5.125%USD1,500$2,051
     SUB TOTAL$4,109
       
     TOTAL$13,947

Repaid 10 January 2022.

Subordinated Notes Issue Presentation (14 September 2020) CLICK HERE

Debt Maturity Profile

AS AT 31 DECEMBER 20211

$ billion

*Does not include the subordinated notes given their equity-like characteristics

Interest Rate Hedging

AS AT 31 DECEMBER 2021


$bnFixed Rate
Borrowings9.5
Subordinated notes4.11



Fixed Rate Debt

$ Fixed rate debt0.033.81%



Derivatives

$ Swap Payable6.731.95%
Total Hedged6.76 1.96%

50% Hedged at 31 DECEMBER 2021


Covenants

AS AT 31 DECEMBER 2021

BOND COVENANTSREQUIREMENT31-DEC-2130-JUN-21
NET DEBT / NET ASSETS≤ 65%27.5%27.9%
SECURED DEBT / TOTAL ASSETS≤ 45%0.7%0.8%
INTEREST COVERAGE≥ 1.5 TIMES4.0 tIMES3.3 TIMES
UNENCUMBERED LEVERAGE≥ 125%340%330%