Financing ·
SmartStop Self Storage REIT, Inc. completed a private placement of CAD $200 million in aggregate principal amount of…
STSFFSmartStop Self Storage REIT, Inc.
SmartStop Self Storage REIT, Inc. completed a private placement of CAD $200 million in aggregate principal amount of its 4.317% Senior Unsecured Notes due February 18, 2031. The Operating Partnership issued the notes at par ($1,000 CAD per note) with interest payable semiannually on February 18 and August 18, starting February 18, 2027. Morningstar DBRS rated the debt BBB (Stable). Net proceeds were used to repay existing indebtedness, including amounts drawn under its revolving credit facility, and for general corporate purposes. This offering marks the company's third senior unsecured Canadian bond issuance.