Scentre Group Prices AU$900 Million in Subordinated Notes

Scentre Group (ASX:SCG) priced AU$900 million in subordinated notes in the Australian domestic market, comprising AU$600 million floating-rate notes due 2054 and AU$300 million fixed-rate notes due 2054, according to a Friday filing with the Australian bourse.

Proceeds will fund the group's cash offer for $656 million principal amount of its outstanding subordinated notes due 2080, with settlement expected on Sept. 10, the filing stated.

The Westfield brand shopping center owner and manager received demand from Australian and Asian investors, according to the filing.