Stonepeak-Plus Infra Debt Announces AUD 0.58 Interest Distribution on BBSW-Indexed SPPHA Bond

SPPHA Bond Interest Payment of AUD 0.58 Per Note Set for 20 July 2026

Stonepeak-Plus Infra Debt Limited has officially informed the ASX of an interest payment amounting to AUD 0.58 per security on its listed infrastructure bond, SPPHA. This payment covers the 28-day interest period from 22 June 2026 to 19 July 2026, with the cash distribution scheduled for 20 July 2026. The company’s update, lodged on 3 July 2026, provides noteholders and prospective investors with the exact timetable and rate components relevant to this payment.

For investors monitoring monthly income from listed debt securities, the confirmed AUD 0.58 payment per note reflects the pro-rated return on a AUD 100 face value. The pro-rated interest rate for the 28-day period was calculated at 0.5792%, consistent with the formula outlined in the Stonepeak-Plus INFRA1 Notes Prospectus dated 19 November 2025. The company also noted that interest payments are subject to conditions related to the interest payment date and may be deferred wholly or partially at the issuer’s discretion, with any deferred interest accruing to noteholders.

Calculation of the 7.55% Annual Interest Rate on the INFRA1 Floating-Rate Notes

The total annualised interest rate of 7.55% for this period is derived by adding the 1-month BBSW mid-rate to a fixed margin of 3.25% per annum. The BBSW base rate was set at 4.30% on 22 June 2026, the first business day of the interest period. This floating-rate structure means the interest payment amount will vary each period in line with changes in the benchmark short-term rate.

The fixed margin of 3.25% per annum applies until the Target Repayment Date specified in the prospectus. This margin provides a stable spread above the prevailing short-term rate. The interest calculation follows the formula: Interest = (Interest Rate × Face Value × N) / 365, where N is the number of days in the interest period. For this period, this results in the AUD 0.58 payment per note. The company did not report any changes to the margin for future periods in this update.

Critical Dates for SPPHA Investors: Ex-Date, Record Date, and Payment Date

Three important dates determine entitlement to the July 2026 interest payment. The ex-date is 14 July 2026, meaning investors who acquire SPPHA securities on or after this date will not receive the current interest payment. The record date is 15 July 2026, when the register of noteholders is reviewed to identify those eligible for payment. The distribution of funds will occur on 20 July 2026.

These dates are crucial for investors managing fixed-income portfolios, especially those considering trading SPPHA securities before the payment. Secondary market prices for listed debt instruments typically adjust around ex-dates to reflect upcoming distributions. Investors should consult the full Stonepeak-Plus INFRA1 Notes Prospectus, available on the company’s website, for comprehensive details on payment terms and eligibility.

July 2026 Payment Excludes Franking Credits and Principal Repayment

The interest payment on the SPPHA bond is unfranked, so noteholders will not receive any franking credits as part of the cash distribution. This is typical for corporate debt securities, which do not offer the tax offsets associated with equity dividends. Investors should consider this when evaluating after-tax returns compared to other income investments.

The company also confirmed that the 20 July 2026 payment contains no principal repayment component. This is a standard interest-only distribution consistent with the bond’s monthly payment schedule before redemption or maturity. The full name of the security, BOND 1-BBSW+3.25% 06-12-32 MTH CUM RED STEP, indicates a maturity date in December 2032, implying several more years of monthly interest payments for noteholders.

No Regulatory Approvals Needed for This Interest Distribution

Stonepeak-Plus Infra Debt Limited stated that no external regulatory approvals are necessary for this payment to proceed on the scheduled date. Specifically, no approvals from security holders, courts, ASIC filings, ACCC, or FIRB are required. This eliminates regulatory uncertainty and assures noteholders the payment will occur as planned, subject only to the issuer’s internal conditions.

The absence of regulatory barriers aligns with the routine nature of this monthly interest payment under the INFRA1 Notes Prospectus framework. The company also confirmed that the payment will be made entirely in Australian dollars with no currency conversion involved. This straightforward arrangement should reassure retail investors who acquired the notes during the original public offering in late 2025.

Impact of the 1-Month BBSW Rate on INFRA1 Noteholder Returns

As a floating-rate instrument, the SPPHA bond’s cash income fluctuates with the 1-month BBSW rate, which resets at the start of each 28-day interest period. For the current period, the BBSW rate was 4.30%, resulting in a total annual rate of 7.55%. Changes in the Reserve Bank of Australia’s official cash rate or broader money market conditions will influence the 1-month BBSW and consequently the total interest rate on the INFRA1 Notes.

This floating-rate feature benefits investors in rising interest rate environments, as increases in BBSW lead directly to higher monthly payments. Conversely, payments decline if rates fall. The fixed margin of 3.25% per annum provides a baseline return above the benchmark rate, offering some income stability relative to instruments solely linked to BBSW. Investors should review the prospectus for detailed information on how rate changes affect future payment calculations.

Overview of Stonepeak-Plus INFRA1 Notes and November 2025 Prospectus

The Stonepeak-Plus INFRA1 Notes were issued under a prospectus dated 19 November 2025. These cumulative, redeemable, step-up bonds feature a floating interest rate linked to the 1-month BBSW plus a fixed margin. The "cumulative" aspect means any deferred interest continues to accrue and remains payable to noteholders. The "step" element may indicate changes to the margin or rate structure at a specified point, such as the Target Repayment Date, although no details on post-target rates were provided in this update.

Further information, including the full prospectus, is accessible on the Stonepeak-Plus website at stonepeakplus.com.au. The notes are traded on the ASX under the code SPPHA and issued by Stonepeak-Plus Infra Debt Limited. For investors seeking infrastructure debt exposure through a listed vehicle, these notes offer monthly income and a BBSW-linked return profile within Australia’s fixed-income market. Prospective investors should carefully read the prospectus and obtain independent financial advice before investing.

Monthly Payment Frequency Supports Fixed-Income Portfolio Management

The SPPHA bond’s monthly payment schedule—with 28-day interest periods and payments approximately one business day after period end—provides a higher frequency income stream compared to the quarterly or semiannual distributions common among listed bonds and hybrids. This can aid income-focused investors with cash flow planning and reinvestment strategies.

Each interest period begins with a new BBSW rate setting, offering investors monthly transparency on rate levels and payment amounts. Such updates, including this company announcement, give market participants visibility into the benchmark environment and upcoming payment quantum. The next interest period starts 20 July 2026, with the new BBSW rate to be set that day and disclosed in a future Stonepeak-Plus update.

Immediate Considerations for SPPHA Bond Investors

For current holders, the critical upcoming date is the ex-date of 14 July 2026. Investors holding SPPHA securities at the close of trading on 11 July 2026 (the last business day before the ex-date) will be eligible for the AUD 0.58 payment on 20 July 2026. Those purchasing on or after 14 July 2026 will not receive this month’s interest distribution.

The immediate impact on the bond’s secondary market price was not publicly disclosed. As a listed debt security, SPPHA’s market price is influenced primarily by interest rate expectations, credit risk, and yield comparisons rather than equity market factors. Market participants following ASX-listed infrastructure debt may regard this announcement as a routine confirmation of the notes’ ongoing operation in line with prospectus terms.