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WOOLWORTHS GROUP LIMITED — Capital/Financing Update 2020
May 12, 2020
66075_rns_2020-05-12_3360ea90-bf77-42f5-9848-66f390fb02a7.pdf
Capital/Financing Update
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13 May 2020
ASX Market Announcements Office Australian Securities Exchange 20 Bridge Street Sydney NSW 2000
Woolworths Group $1 billion Australian bond issue, refinancing future maturities
Please see attached an announcement authorised for release to the market.
Marcin Firek Company Secretary Woolworths Group Limited
Woolworths Group Limited ABN 88 000 014 675 1 Woolworths Way, Bella Vista NSW 2153
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13 May 2020
Woolworths Group $1 billion Australian bond issue, refinancing future maturities
Woolworths Group has successfully priced $400 million of senior unsecured five year notes and $600 million of ten year notes (Notes) under its Euro Medium Term Note Programme. The Notes are denominated in Australian dollars, and issued to Australian and international institutional investors. They do not qualify for retail investor distribution.
The Notes were priced at 1.85% for the five year notes and 2.80% for the ten year notes, and settlement is expected to occur on 20 May 2020. Woolworths Group will use the proceeds from the Notes for the refinancing of future debt maturities of approximately $1 billion later in calendar year 2020.
The interest rate on the Notes is below Woolworths Group’s current average cost of debt and will improve the Group’s maturity profile.
The successful outcome of this transaction reflects the Group’s financial strength and attractiveness in the capital markets during this period. Woolworths Group continues to maintain solid investment grade credit ratings on a stable outlook with both Moody’s (Baa2) and S&P (BBB).
ENDS
For further information contact:
Media: Woolworths Group Press Office: +61 2 8885 1033 [email protected] Equity Investors & Analysts: Paul van Meurs, Head of Investor Relations: +61 407 521 651 Debt Investors: Tricia Ho-Hudson, Group Treasurer: +61 429 053 726
Woolworths Group Limited ABN 88 000 014 675 1 Woolworths Way, Bella Vista NSW 2153