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Public Storage Subsidiary Prices Public Offering Of $1B Of Senior Notes

Author: Benzinga Newsdesk | April 09, 2024 05:48pm

The Notes will be issued in two tranches with an initial weighted average interest rate of approximately 5.8%. The first tranche of $700 million aggregate principal amount of floating rate senior notes due 2027 will bear interest at a rate equal to Compounded SOFR. The second tranche of $300 million aggregate principal amount of fixed rate senior notes due 2053 will bear interest at an annual rate of 5.350%, will be issued at 98.249% of par value and will mature on August 1, 2053.

Posted In: PSA