Public Storage issues $875M in two-tranche senior notes at 4.375% (2030) and 5.000% (2035)

Public Storage

$475M of 4.375% senior notes due 2030 issued at 99.707% of par; $400M of 5.000% notes due 2035 at 99.557%.
Net proceeds will repay $400M floating-rate notes due 2025 and fund acquisitions, general corporate purposes.
Notes are issued by Public Storage Operating Company and guaranteed by Public Storage.
Offering expected to close June 30, 2025, under a shelf registration filed Dec 2024.

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