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SCENTRE GROUP Capital/Financing Update 2026
65754_rns_2026-05-05_35f4b803-fd99-49d9-8f49-d6a7e0f30d19.pdf
Capital/Financing Update
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SCENTRE GROUP
ASX Announcement
6 May 2026
Funding Margin and Interest Rate Hedging
Scentre Group refers to the announcement on 1 May 2026 in relation to the results of the any and all tender offer for its outstanding US$1,312 million Non-Call 2030 Subordinated Notes (Notes) (A$1,794 million equivalent).
The Group confirms that it has settled the tendered US$1,169 million of Notes (A$1,598 million equivalent) on 5 May 2026 (New York City time). The remaining Notes will be redeemed at par on 18 May 2026.
Funding Margin
As a result of the capital management initiatives undertaken by the Group in 2026, the Group's total funding margin has reduced from 2.6% as at 31 December 2025 to 1.6% as at 30 April 2026 (on a pro-forma basis). An update of the Group's Facility Profile as at 30 April 2026 is provided in Appendix 1.
Interest Rate Hedging
In addition, the Group has restructured its interest rate hedging in order to increase coverage in 2027 and 2028, without reducing coverage in 2026. Following the implementation of the restructure of the interest rate hedging, the Group's updated profile is shown in Appendix 1.
2026 Guidance
The Group maintains its target for FFO to be at least 23.73 cents per security for 2026, representing at least 4.0% growth for the year. Distributions are expected to grow by 4.0% for 2026 to 18.43 cents per security.
The Group acknowledges the current geopolitical volatility, its impact on the broader economy and in particular, the potential impact on the consumer. The Group continues to closely monitor any impact this may have on our business and outlook for 2026.
This announcement has been authorised for release by the Chief Executive Officer.
Scentre Group Limited
ABN 66 001 671 496
Level 30, 85 Castlereagh Street
Sydney NSW 2000 Australia
GPO Box 4004
Sydney NSW 2001 Australia
1 | ASX Announcement
scentregroup.com
SCENTRE GROUP
Appendix 1
Funding Margin
| Facility Profile | As at 31 December 2025 | As at 30 April 2026¹ | ||||
|---|---|---|---|---|---|---|
| % | $bn | Margin | % | $bn | Margin | |
| Senior Facilities | 83% | 15.8 | 2.3% | 91% | 15.4 | 1.5% |
| Subordinated Notes | 17% | 3.3 | 3.7% | 9% | 1.6 | 2.3% |
| Total Funding | 100% | 19.1 | 2.6% | 100% | 17.0 | 1.6% |
| Less Drawn Facilities | (14.5) | (14.1) | ||||
| Plus Cash | 0.6 | 0.3 | ||||
| Total Liquidity | 5.2 | 3.2 |
Interest Rate Hedging
Hedge Maturity Profile and Rates (Dec-25)
Hedge Maturity Profile and Rates (Apr-26)²
- Pro-forma for the redemption of the US$1,312 million Non-Call 2030 Subordinated Notes (Notes) (A$1,794 million equivalent)
- Pro-forma for the restructure of interest rate hedges completed on 6 May 2026
Further Information
| Company Secretary
+61 2 9358 7439 | Investor Relations
+ 61 2 9028 8792 | Corporate Affairs/Media
+61 2 9358 7739 |
| --- | --- | --- |
| Scentre Group Limited ABN 66 001 671 496 | | |
| Scentre Management Limited
ABN 41 001 670 579
AFS Licence No: 230329 as
responsible entity of Scentre Group Trust 1
ABN 55 191 750 378
ARSN 090 849 746 | RE1 Limited
ABN 80 145 743 862
AFS Licence No: 380202 as
responsible entity of Scentre Group Trust 2
ABN 66 744 282 872
ARSN 146 934 536 | RE2 Limited
ABN 41 145 744 065
AFS Licence No: 380203 as
responsible entity of Scentre Group Trust 3
ABN 11 517 229 138
ARSN 146 934 652 |
Level 30, 85 Castlereagh Street
Sydney NSW 2000 Australia
GPO Box 4004
Sydney NSW 2001 Australia
ASX Announcement
scentregroup.com