Extra Space reports 93-99% early tender in Life Storage note exchange; extends premium to all

Extra Space Storage Inc.

As of June 16, 97.06% of 2026 notes ($582M), 97.23% of 2027 notes ($438M), 93.59% of 2029 notes ($328M), 99.23% of 2030 notes ($397M), 99.96% of 2031 notes ($600M) tendered.
Consents from majority of each series secure; proposed amendments to eliminate restrictive covenants and reporting obligations become effective on settlement date.
Extra Space extends $1,000 principal plus $1.00 cash early premium to all holders who tender by July 21, 2023 expiration.
Exchange offers conditioned on closing of Life Storage merger, expected in H2 2023.

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