Extra Space Storage Inc. (EXR): debt financing — Extra Space Storage LP issues $500M of 5.700% Senior Notes due 2028

Extra Space Storage Inc.

$500M aggregate principal of 5.700% Senior Notes due 2028 issued at 99.823% of par.
Interest payable semi-annually on April 1 and October 1, starting Oct 1, 2023; maturity April 1, 2028.
Notes are senior unsecured obligations; guaranteed by parent Extra Space Storage Inc. and two business trusts.
Indenture contains restrictive covenants limiting additional indebtedness and requiring unencumbered asset pool.
Offering completed under existing shelf registration; use of proceeds not specified.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Extra Space Storage Inc. incurred senior notes of $500,000,000 aggregate principal amount at 5.700% maturing April 1, 2028.

Instrument: senior notes
Principal: $500,000,000 aggregate principal amount
Rate: 5.700%
Maturity: April 1, 2028
Event: incurrence

Exact text from the filing

On March 28, 2023, Extra Space Storage LP (the “Issuer”), a Delaware limited partnership and subsidiary of Extra Space Storage Inc. (the “Company”), completed an underwritten public offering of $500,000,000 aggregate principal amount of its 5.700% Senior Notes due 2028 (the “Notes”).

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Extra Space Storage Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-082217

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