Financing ·
On July 20, 2026, Public Storage Operating Company, a subsidiary of Public Storage, completed the offering of $900…
PSA-PGPublic Storage
On July 20, 2026, Public Storage Operating Company, a subsidiary of Public Storage, completed the offering of $900 million in senior notes. The issuance consists of $400 million in 4.700% Senior Notes due February 1, 2032, and $500 million in 5.150% Senior Notes due August 15, 2036. Both tranches are guaranteed by Public Storage. The notes include a special mandatory redemption provision at 101% of the principal if the acquisition of National Storage Affiliates Trust is not consummated by December 16, 2026, or if the company ceases to pursue the acquisition. The indenture requires the subsidiary to maintain total unencumbered assets of at least 125% of total unsecured indebtedness. Public Storage operates in the real estate industry and provides self-storage and portable storage solutions.