Business
SmartStop Closes Canadian Maple Bond Offering for CAD $200 Million
LADERA RANCH, Calif., September 24, 2025--SmartStop Closes Canadian Maple Bond Offering for CAD $200 Million
About this update from Smartstop Self Storage Reit, Inc.
[{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":480,"height":293,"url":"https://media.zenfs.com/en/business-wire.com/33ac120a89cac5dd505583958b9cb517"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/tAe6mAu6aGeF91RwU_HRbg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTU4NjtjZj13ZWJw/https://media.zenfs.com/en/business-wire.com/33ac120a89cac5dd505583958b9cb517","width":480,"height":293}},"lazy":false},{"type":"text","content":"LADERA RANCH, Calif., September 24, 2025--(BUSINESS WIRE)--SmartStop Self Storage REIT, Inc. ("SmartStop") (NYSE: SMA), an internally managed real estate investment trust and a premier owner and operator of self-storage facilities in the United States and Canada, announced that it has closed its previously announced CAD$200 million aggregate principal amount of Series B Senior Unsecured Notes, due September 24, 2030 (the "Notes"). The Notes were issued by SmartStop’s operating partnership, SmartStop OP, L.P. The Notes bear interest at a rate of approximately 3.888% per annum, payable in cash in equal semiannual installments commencing on March 24, 2026. The Notes are rated BBB mid with a Stable Outlook by Morningstar DBRS.","length":752,"tagName":"p"},{"type":"text","content":"This Maple Bond marks SmartStop’s second senior unsecured Canadian bond offering, a testament to SmartStop’s long-standing and growing presence in the Canadian market with more than 15 years of experience in the GTA ("Greater Toronto Area"). SmartStop intends to use the net proceeds from the offering to repay outstanding indebtedness, fund acquisitions and for general corporate purposes.","length":400,"tagName":"p"},{"type":"text","content":""Coming back to the Maple Bond market is a representation of SmartStop’s ability to be opportunistic, raising capital at an attractive cost and reinforcing our position in this particular space," said H. Michael Schwartz, Chairman and CEO of SmartStop. "With these bonds, we have completed our FX cash flow hedging strategy for the current portfolio, while further laddering out our debt maturities."","length":420,"tagName":"p"},{"type":"text","content":"The Notes were offered on an agency basis by a syndicate of agents that included BMO Capital Markets and National Bank Capit...