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Woolworths Group manages its capital structure with the objective of enhancing long‑term shareholder value through funding its business at an optimised weighted average cost of capital. 

Capital markets debt

Issue amountOutstanding amountCouponMaturityTenor (years)Documentation

AUD400m*

 AUD400m

1.85%

May-25

5

Offering Circular

AUD350m

 AUD350m

1.85%

Nov-27

6

Offering Circular

Supplemental

Offering Circular

EUR550m

 EUR550m

0.375%

Nov-28

7

Offering Circular

Supplemental

Offering Circular

AUD600m*

 AUD600m

2.80%

May-30

10

Offering Circular
AUD650m AUD650m5.762%Apr-317.5Information Memorandum

AUD350m

 AUD350m

2.75%

Nov-31

10

Offering Circular

Supplemental

Offering Circular

EUR500mEUR500m3.75%Oct-327.5Offering Circular
AUD800mAUD800m5.91%Nov-3410Information Memorandum

* All bonds issued under Woolworths' AMTN programme are Eligible Securities as defined by the Reserve Bank of Australia (RBA). As such, they are eligible for purchase by the RBA under a repurchase agreement.

Woolworths Group was the first retailer in Australia, and first supermarket globally, to issue Green Bonds certified by the Climate Bonds Initiative.

Green Bonds are bonds issued to finance projects, assets or expenditure that deliver positive environmental outcomes or refinance corporate debt that supports such projects, assets or expenditure. We have developed our Green Bond Framework in line with the Green Bond Principles 2018 developed by the International Capital Markets Association.

The documents relevant to our Green Bond issuance(s) are set out below:

Woolworths Group has chosen to create a Sustainability Linked Bond Framework in order to align its sustainability plan with its long term financing strategy.

Woolworths Group cares deeply about its impact on people and the planet, and we want to go further than just minimising harm – we want to create good. This will be done through ongoing improvement of how Woolworths Group conducts its own business, including how it engages its people and the communities in which it operates.

The documents relevant to our Sustainability Linked Bond Framework are set out as below:

A$350m Nov-27, EUR550m Nov-28, A$350m Nov-31 Sustainability Linked Bond Report

Introduction

Woolworths Group’s previous scope 1 and 2 emissions reduction target, validated by the Science Based Target initiative (SBTi) in 2020, is aligned with a 1.5°C pathway. SBTi is an independent global body formed by the United Nations Global Compact, CDP, the World Resources Institute and the World Wildlife Fund for Nature. SBTi assesses and approves company targets through a scientific lens, to align with the Paris Agreement goal of pursuing efforts to limit warming to 1.5°C. 

In F24, Woolworths Group updated its applicable near-term emissions reduction target to reduce scope 1 and 2 emissions by 80% by F30, from a F23 baseline. This updated target is aligned with a 1.5°C pathway, and has been validated by the SBTi.

Basis of Preparation

The updated emissions reduction target uses:

  • An operational control approach to define the emissions boundary.

  • A market-based approach for calculating our scope 2 emissions. 

Woolworths Group reports in compliance with the NGER Measurement Determination, NZ Ministry for the Environment Emissions Measurement Guide, National Greenhouse Accounts Factors and the Greenhouse Gas (GHG) Protocol Corporate Standard. 

Material scope 1 emissions sources include fugitive synthetic refrigerants, transport fuel for company-owned or company-controlled fleet cars and home delivery trucks, and natural gas. 

Scope 2 (market-based) emissions are those associated with purchased electricity used across all stores, distribution centres and offices, and they comprise the largest part of our operational footprint. Scope 2 (market-based) emissions include unbundled procurement of energy attribute certificates (i.e. LGC procurement from the market) acquired for F25 grid electricity consumption. All relevant certificates were surrendered prior to the release date of the Group’s F25 Sustainability Report, in line with GHG protocols and internal policies that are applied consistently each year.

Baseline and restatements

In F24, we were required to reset our previous F15 base year to a F23 base year due to organisational changes, such as the demerger of Endeavour Group and the acquisitions of PFD Foods and Quantium. This also considered updates to our calculation methodologies and emissions factors in line with the GHG Protocol to support more accurate tracking of our emissions over time.

Our aim to reduce absolute scope 1 and 2 GHG emissions by 80% by F30 from a F23 base year is the applicable SBTi target for the Sustainability Linked Bonds test at the end of F25. 

Performance against SBTi 

As per the terms of the Sustainability Linked Bonds and the Sustainability Linked Bond Framework, F25 is the first financial year that the Group is required to test its scope 1 and 2 emissions reduction against the SBTi verified target trajectory. Accordingly, our scope 1 and 2 emissions reduction performance (expressed as a percentage) is shown below: 

Year

Scope 1 and 2 emissions – market-based

 

tCO2e

% reduction

F23 - baseline¹

1,941,581 

N/A

F24

1,767,284

(9.0%)

F25

1,497,791

(22.9%)

 

SLB Test Date

As of 29 June 2025, the Test Date, Woolworths Group’s Reduction Percentage was 22.9%. This was in line with or greater than the Reduction Percentage Threshold, being the straight line interpolated target derived from our target to reduce scope 1 and 2 emissions by 80% by F30.

As such, the Group has fulfilled its obligations under the A$350m Nov-27 bonds and no Coupon Step Up Event has occurred with respect to these bonds.

More information on our new SBTi targets can be found in the Woolworths Group 2025 Annual Report and Sustainability Report here.

Assurance reports

 

Woolworths Group returns capital to shareholders when consistent with its long-term capital structure objectives and where it will enhance shareholder value.

Buy-Back 2021

As part of our capital management strategy, Woolworths Group successfully completed its $2bn off-market buy-back on Monday, 18 October 2021. 58 million shares were bought back and subsequently cancelled. 

The key documents below should not be distributed or released in or into the United States or Canada. 

Buy-Back 2019

As part of our capital management strategy, Woolworths Group successfully completed its A$1.7bn off-market buy-back on 27 May 2019. 58.7 million shares were brought back and subsequently cancelled.

The key documents below should not be distributed or released in or into the United States or Canada.

Woolworths Group is committed to solid investment grade credit ratings. 

  • Credit metrics have significant headroom above thresholds for current ratings

Standard & Poor's

Moody's
BBB (stable outlook)*                Baa2 (stable outlook)*

* These credit ratings have been issued by a credit rating agency which holds an Australian Financial Services Licence with an authorisation to issue credit ratings to wholesale clients only and are published for the benefit of Woolworths Group’s debt providers.