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Stock impact report

Public Storage Prices Public Offering of Senior Notes

Public Storage (PSA) 
Last public storage earnings: 4/30 04:00 pm Check Earnings Report
Company Research Source: Business Wire
GLENDALE, Calif.--(BUSINESS WIRE)--Tom Boyle, Chief Financial Officer of Public Storage (NYSE:PSA, the “Company”), announced today that the Company has priced a public offering of $500 million aggregate principal amount of Senior Notes due 2026 (the “Notes”). The Notes will bear interest at an annual rate of 0.875%, will be issued at 99.817% of par value and will mature on February 15, 2026. Interest on the Notes is payable semi-annually on February 15 and August 15 of each year, commencing August 15, 2021. The offering is expected to close on January 19, 2021, subject to the satisfaction of customary closing conditions. The Company expects to use the net proceeds to make investments in self-storage facilities and in entities that own self-storage facilities, for the development of self-storage facilities and for general corporate purposes, including the redemption of its preferred shares.BofA Securities, Inc., J.P. Morgan Securities LLC and Wells Fargo Securities, LLC acted as jo Show less Read more
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