FINWIRES · TerminalLIVE
FINWIRES

ASX:SCG

6 stories mentioning ASX:SCG

Every FINWIRES story that references ASX:SCG, newest first.

Asia

Scentre Group Completes Over $1 Billion Tender Offer for Subordinated Notes Due 2030

Scentre Group (ASX:SCG) completed its $1.31 billion tender offer for non-call subordinated notes due 2030, with about $1.17 billion successfully tendered, according to a Friday Australian bourse filing.The settlement is scheduled for May 5, after which the company plans to redeem the remaining notes at par, with liquidity expected to be around AU$3.2 billion post-redemption, per the filing.The company maintained its 2026 target for funds from operations of at least AU$0.2373 per security, reflecting a minimum 4% annual growth, and also expects distributions to increase by 4% to AU$0.1843 per security, the filing added.

ASX:SCG
Asia

ASX Midday Sector Update: Real Estate Stocks Gain, Utilities Lead Broader Declines

Real estate stocks gained 0.2% in midday trading Tuesday, as almost all other sectors declined amid a continued rise in oil prices and lingering tensions between the US and Iran.Goodman Group (ASX:GMG) was up almost 1% and Scentre Group (ASX:SCG) was marginally higher.Meanwhile, utilities was the weakest sector with a decline of over 3%.Origin Energy (ASX:ORG) slid more than 5% after reporting Monday that its March quarter production fell to 164.5 petajoules from 167.1 petajoules a year earlier.

ASX 200ASX:GMGASX:ORGASX:SCG
Asia

Scentre Group's Redemption of Expensive Hybrid Debt to Remove Key Overhang on Stock, Jefferies Says

Scentre Group's (ASX:SCG) tender offer for all of its outstanding $1.3 billion of subordinated non-call 2030 notes could deliver a "significant potential earnings uplift," Jefferies said in a Thursday note, adding that the redemption of expensive hybrid debt would also eliminate a key overhang on the stock.While the notes are currently trading at a slight premium to par, Jefferies estimates upfront make-whole costs to be slightly lower than the roughly 20% level flagged earlier this year."Annualized interest cost savings from the make-whole of remaining subordinated hybrid notes will more than offset the upfront costs associated with redeeming them," the equity research firm said.Jefferies calculates 400 basis points of margin saving on the roughly AU$1.8 billion of debt through capital recycling, which it said would result in around 5% annualized accretion to its fiscal year 2026 funds from operations per share forecast.Jefferies maintained a buy rating on Scentre with a price target of AU$4.

ASX:SCG
Asia

Scentre Group Poised for High-Inflation Environment, Jefferies Says

Scentre Group (ASX:SCG) is deemed well-positioned for a high-inflation environment, supported by a lease structure where about 80% of specialty leases are linked to the consumer price index, Jefferies said in a Wednesday note.The company recently reported that its total business partner sales across its portfolio for the three months ended March 31 were up 5% compared with a year earlier, reaching AU$7 billion, driven by 5.3% growth in specialty sales.Portfolio occupancy stood at 99.8% as of March 31, up 20 basis points from the same period a year earlier.The company reaffirmed its fiscal-year target for funds from operations of at least AU$0.2373 per security, based on its operating performance in the first quarter, representing at least 4% growth, which Jefferies said is "commendable" considering the number of earnings headwinds this year.Headwinds include the dilution from partial stake sell-downs of Chermside and Sydney malls in fiscal 2025, the AU$240 million Westfield Bondi redevelopment, as well as lower project income expected from this year with 100%-owned Bondi, the financial services firm said.Jefferies upgraded its rating on Scentre Group to buy from hold and maintained its AU$4 price target.Scentre Group shares rose 1% in midday trade on Thursday.

ASX:SCG
Asia

Scentre Group Launches Over $1 Billion Tender Offer for 2030 Subordinated Notes

Scentre Group (ASX:SCG) launched an "any and all" tender offer to repurchase its entire $1.31 billion of non-call 2030 subordinated notes, according to a Thursday Australian bourse filing.The company plans to fund the purchase of the notes through borrowings under its existing senior bank facilities, the filing added.

ASX:SCG
Asia

Scentre Group's Total Business Partner Sales Rise in March Quarter

Scentre Group's (ASX:SCG) total business partner sales across its portfolio for the three months ended March 31 were up 5% compared with a year earlier, reaching AU$7 billion, driven by 5.3% growth in specialty sales, according to a Wednesday Australian bourse filing.The company reported total business partner sales across its portfolio for the three months ended March 31, 2025, of AU$6.7 billion, an earlier filing showed.The portfolio occupancy stood at 99.8% as of March 31, up 20 basis points from the same period a year earlier.Customer visitation across the company's 42 Westfield centers reached 160 million from the start of the year through April 19, representing a 3.1% increase compared with the year-earlier period.The company maintained its target for funds from operations of at least AU$0.2373 per security for 2026, based on its operating performance in the first quarter, representing at least 4% growth for the year.

ASX:SCG