** Scentre Group rises as much as 1% to A$3.535, its highest since Feb 27, 2020
** Property developer priced $A900 mln ($601.2 mln) note issue on Friday
** Citi raises PT to A$3.60 from A$3.50, retains "neutral"
** Increases FY25 and FY26 FFO/shr forecast by 1.9% and 0.7%, respectively
** Notes SCG has A$3.7 bln of subordinated loans and can buy back 10% of that from Nov
** "These buybacks should be even more accretive as potentially longer dated notes will be replaced potentially with even cheaper Australian bank debt or more attractive sources of finance"
** SCG now up 18% YTD, while the real estate index is up ~16%
($1 = 1.4968 Australian dollars)
(Reporting by Echha Jain in Bengaluru)
((Echha.jain@thomsonreuters.com))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.