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Public Storage Prices Public Offering of Euro-Denominated Senior Notes
GLENDALE, Calif., September 26, 2025--Public Storage (NYSE:PSA, the "Company") announced today that the Company’s subsidiary, Public Storage Operating Company ("PSOC"), has priced a public offering of €425 million aggregate principal amount of senior notes due 2034 (the "Notes"). The Notes will be guaranteed by the Company.
About this update from Public Storage
[{"type":"text","content":"GLENDALE, Calif., September 26, 2025--(BUSINESS WIRE)--Public Storage (NYSE:PSA, the "Company") announced today that the Company’s subsidiary, Public Storage Operating Company ("PSOC"), has priced a public offering of €425 million aggregate principal amount of senior notes due 2034 (the "Notes"). The Notes will be guaranteed by the Company.","length":372,"tagName":"p"},{"type":"text","content":"The Notes will bear interest at an annual rate of 3.500%, will be issued at 99.447% of par value and will mature on January 20, 2034. Interest on the Notes is payable annually on January 20 of each year, commencing January 20, 2026. The offering is expected to close on October 3, 2025, subject to the satisfaction of customary closing conditions. PSOC expects to use the net proceeds to repay the outstanding €242 million in aggregate principal amount of its 2.175% senior notes due November 2025 and for general corporate purposes, including to make investments in self-storage facilities (such as acquisitions of facilities or interests in entities that own facilities, development, and mortgage loans secured by facilities), repayment of debt and the redemption of outstanding securities.","length":792,"tagName":"p"},{"type":"text","content":"BNP PARIBAS, Goldman Sachs & Co. LLC and Morgan Stanley & Co. International plc acted as joint book-running managers of the offering. This announcement shall not constitute an offer to sell or a solicitation of an offer to buy these securities nor shall there be any offer or sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. The offering is being made pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission (the "SEC") and only by means of a prospectus and prospectus supplement. Investors may obtain these documents for free by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, copies of the prospectus and prospectus supplement may be obtained by contacting: BNP PARIBAS, 16, boulevard des Italiens, 75009 Paris, France, Attention: Fixed Income Syndicate, Nicholas Hearn, telephone: +44 (0)20-7595-8222 or emails: [email protected] and [email protected]; Goldman Sachs & Co. LLC, Prospectus Departmen...