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The material on this website in relation to the borrowings of Woolworths Group Limited and its related bodies corporate (together called the "Woolworths Group") is provided for information and as a matter of record only.

 

Access to the information in this part of the website (the “Information”) is subject to the following terms and conditions:

 

This website is for information purposes only and is not intended to constitute an offer or invitation in relation to the issue, sale or purchase of any securities in Australia, the United States or any other jurisdiction. It is not, nor is it intended to be, a prospectus or product disclosure statement for the purposes of Chapter 6D.2 or Chapter 7 of the Corporations Act 2001 of Australia (the “Corporations Act”), financial product or investment advice, or a recommendation to acquire Woolworths Group securities. The Information is not addressed to any person in a jurisdiction where access to it or any use of it would result in a contravention by the Woolworths Group or any other person or entity of the laws of that jurisdiction and is intended to be accessed only in such circumstances as may be permitted by applicable law. In particular, the Information:

 

  • is intended only for financial institutions and professional investors in Australia in circumstances where disclosure is not required under Chapter 6D.2 or Chapter 7 of the Corporations Act;
  • must not be given, and is not intended to be given, to any “retail client” within the meaning of section 761G of the Corporations Act; and
  • does not constitute an offer of securities for sale in the United States, or to any person that is or is acting for the account or benefit of any U.S. person (as understood for the purposes of the U.S. Securities Act of 1933, as amended).

 

The Information has been prepared without taking into account the jurisdiction, objectives, financial situation or needs of individuals. No money, securities or other consideration is being solicited and, if sent in response to the Information, will not be accepted. Any offering of any security or other financial instrument that may be related to the subject matter of this website will be made pursuant to separate and distinct offering documentation and, in such case, the Information will be superseded in its entirety by any such offering documents in their final form. Before making any future investment decision, prospective investors should consider the appropriateness of the Information having regard to their own objectives, financial situation and needs and seek legal and taxation advice appropriate to their jurisdiction. Nothing in this website constitutes an invitation to enter into any contract or other arrangement (whether legally binding or not).

 

The credit ratings in this part of the website 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. The credit ratings are published for the benefit of Woolworths Group’s debt providers and for information only. The credit ratings must not be used, and Woolworths does not intend to authorise their use, in the support of or in relation to the marketing of financial products to retail investors (within the meaning of section 761G of the Corporations Act) in Australia.

 

No representation or warranty, expressed or implied, is made as to the fairness, accuracy, completeness or correctness of the Information (including any opinions and conclusions) contained in this website. To the maximum extent permitted by law, none of Woolworths Group and its related bodies corporate, or their respective directors, employees or agents, nor any other person accepts liability for any loss arising from the use of the Information or the website contents or otherwise arising in connection with it, including, without limitation, any liability from fault or negligence.

 

The Information may contain forward-looking statements including statements regarding our intent, belief or current expectations with respect to Woolworths Group’s business and operations, market conditions, results of operations and financial condition, specific provisions and risk management practices. When used in this website, the words ‘plan’, ‘will’, ‘anticipate’, ‘expect’, ‘may’, ‘should’ and similar expressions, as they relate to Woolworths Group and its management, are intended to identify forward-looking statements.

 

Forward-looking statements involve known and unknown risks, uncertainties and assumptions and other important factors that could cause the actual results, performances or achievements of Woolworths Group to be materially different from future results, performances or achievements expressed or implied by such statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date thereof. In addition, past performance is no guarantee of future performance.

 

This notice, the Information and all matters relating to any of them are governed by and are to be construed according to the laws applicable in the State of New South Wales, Australia and are subject to the non-exclusive jurisdiction of the courts of that place.

 

By accessing and reading the Information, you agree to these Terms and Conditions.
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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 target reduction in scope 1 and 2 emissions was validated by the SBTi in 2020. 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, ensuring alignment with the Paris Agreement goal of limiting global temperature rise to well-below 2°C above pre-industrial levels, and pursuing efforts to limit warming to 1.5°C. 

Woolworths Group’s applicable SBTi target is to reduce scope 1 and 2 emissions by 63% from a 2015 baseline, by 2030. This is a 1.5 degree-aligned pathway.

Basis of Preparation

The SBTi verified target uses:

  • An operational control approach to define the emissions boundary.

  • A location-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 GHG Protocol. 

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 emissions are those associated with purchased electricity used across all stores, distribution centres and offices; they comprise the largest part of our operational footprint. 

Baseline and restatements

The baseline year used to create the SBTi approved decarbonisation trajectory was F15 and this is the relevant baseline year for the purpose of calculating the percentage reduction in emissions for the Sustainability Linked Bonds.

The F15 baseline, as verified by the SBTi, was adjusted in F23 to reflect the demerger of Endeavour Group and acquisition of PFD Foods and Quantium.

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. However, the Group is required to report annually on its scope 1 and 2 emissions reduction performance (expressed as a percentage). 

Year

Scope 1 and 2 emissions – location-based 

 

tCO2e

% reduction

F15 - baseline¹

2,934,937 

N/A

F22²

2,155,150

(26.6%)

F23

1,985,174

(32.4%)

F24

1,841,031

(37.3%)

 

1. In F23, SBTi confirmed that it was appropriate for Woolworths Group to adjust the 2015 baseline to account for organisational structure changes, such as acquisitions and divestments, and that location-based reductions on the adjusted baseline can be counted as progress towards Woolworths Group’s existing Science Based Targets. The F15 baseline has been presented on this basis.

2. In November 2022, the Clean Energy Regular (CER) provided new guidance on the treatment of Australian Carbon Credit Units (ACCU) issued for projects registered with the Emissions Reduction Fund (ERF). As per that guidance, F22 emissions were revised to include ACCUs issued in that year.

Context for F25 Group reporting and targets

Woolworths Group continues to evolve its approach towards emissions reduction. From F25, we have updated our scope 1 and 2 emissions target to 80% reduction by 2030, from a 2023 baseline, following a market-based approach. This target has been verified by SBTi, and represents a 1.5 degree-aligned pathway. This will be the applicable SBTi target for the Sustainability Linked Bonds test at the end of F25.

More information on our new SBTi targets can be found in the Woolworths Group 2024 Annual Report and Sustainability Report.

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.