debt
confidence high
sentiment neutral
materiality 0.50
Extra Space Storage prices $600M of 5.900% senior notes due 2031
Extra Space Storage Inc.
- Notes priced at 99.712% of par, mature January 15, 2031, closing expected December 1, 2023.
- Proceeds: ~half to repay term loan under June 2023 credit agreement; remainder for lines of credit, general corporate purposes.
- Notes fully and unconditionally guaranteed by Extra Space Inc. and certain subsidiaries.
- Joint book-runners: J.P. Morgan, PNC Capital Markets, Truist Securities, BMO, TD, Wells Fargo, BofA, US Bancorp.