debt
confidence high
sentiment neutral
materiality 0.55
Extra Space Storage prices $300M add-on of 5.700% notes due 2028
Extra Space Storage Inc.
- Extra Space Storage LP priced $300M additional 5.700% senior notes due April 1, 2028 at 102.857% of par.
- Notes will be fungible with existing $500M of 5.700% notes due 2028 under same indenture.
- Net proceeds to repay lines of credit and for general corporate purposes, including potential acquisitions.
- Interest payable April 1 and October 1 at 5.700% per annum; maturity April 1, 2028.
- Issuer may redeem at make-whole premium until March 1, 2028, then at par.