Company: BPYPN
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001545772-25-000008
Chunk: 279

Company: Brookfield Property Partners L.P.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 19
Chunk 279
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 Yuan, Brazilian Real, Indian Rupee, South Korean Won and Japanese Yen denominated net investments in foreign subsidiaries and foreign currency denominated financial assets;

• interest rate swaps to manage interest rate risk associated with planned refinancings and existing variable rate debt;

• interest rate caps to hedge interest rate risk on certain variable rate debt; and

• cross currency swaps to manage interest rate and foreign currency exchange rates on existing variable rate debt.

The partnership also designates Canadian Dollar financial liabilities of certain of its operating entities as hedges of its net investments in its Canadian operations.

- F-48 -

Interest Rate Hedging

The following table provides the partnership’s outstanding derivatives that are designated as cash flow hedges of variability in interest rates associated with forecasted fixed rate financings and existing variable rate debt as of December 31, 2024 and 2023:

  (US$ Millions)      Hedging item                                   Notional                 Rates            Maturity dates             Fair value  
  Dec. 31, 2024       Interest rate caps of US$ SOFR debt                   $      4,859      1.0% - 6.0%      Jan. 2025 - Jan. 2027      $           
                      Interest rate swaps of £ SONIA debt                 832                 4.7% - 4.8%      Jan. 2025 - Apr. 2026      ( 1)        
                      Interest rate swaps of AUD BBSW/BBSY debt           718                 3.0% - 4.5%      Mar. 2025 - Dec. 2027      ( 1)        
  Dec. 31, 2023       Interest rate caps of US$ SOFR debt                   $      8,530      1.0% - 6.0%      Jan. 2024 - Mar. 2025      $           
                      Interest rate swaps of AUD BBSW/BBSY debt           724                 3.9% - 4.5%      Sep. 2024 - Nov. 2028      ( 3)        
                      Other interest rate derivatives                     312                 4.5% - 9.8%      Aug. 2025 - Dec. 2027      —           
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
                      Interest rate swaps of US$ SOFR debt                         4,016