Extra Space Storage Inc. (EXR): debt financing — Extra Space Storage LP issues $450M of 5.5% Senior Notes due 2030

Extra Space Storage Inc.

$450M aggregate principal of 5.500% Senior Notes due 2030 issued on June 16, 2023.
Notes priced at 98.878% of principal; interest at 5.5% payable Jan 1 and July 1 starting Jan 1, 2024.
Fully guaranteed by Extra Space Storage Inc., ESS Holdings Business Trust I and II; senior unsecured.
Maturity July 1, 2030; redeemable at make-whole premium before May 1, 2030, then at par.
Issued under effective shelf registration; contains covenants limiting additional debt and requiring unencumbered assets.

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 $450,000,000 aggregate principal amount with Computershare Trust Company, N.A., as successor trustee to Wells Fargo Bank, National Association, as trustee at 5.500% per annum maturing July 1, 2030.

Instrument: senior notes
Principal: $450,000,000 aggregate principal amount
Counterparty: Computershare Trust Company, N.A., as successor trustee to Wells Fargo Bank, National Association, as trustee
Rate: 5.500% per annum
Maturity: July 1, 2030
Event: incurrence

Exact text from the filing

On June 16, 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 $450,000,000 aggregate principal amount of its 5.500% Senior Notes due 2030 (the “Notes”).

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Extra Space Storage Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-168983

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