Public Storage (PSA): debt financing — Public Storage subsidiary issues $875M in senior notes: $475M at 4.375% due 2030 and $400M at 5.000% due 2035

Public Storage

PSOC issued $475M 4.375% Senior Notes due July 1, 2030.
PSOC issued $400M 5.000% Senior Notes due July 1, 2035.
Interest payable semi-annually on Jan 1 and Jul 1, starting Jan 1, 2026.
Notes are unsecured, unsubordinated obligations of PSOC, guaranteed by Public Storage.
Proceeds used for general corporate purposes; covenants include unencumbered assets test.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.98

Public Storage incurred senior notes of $475 million 4.375% Senior Notes due 2030 and $400 million 5.000% Senior Notes due 2035 with Computershare Trust Company, N.A. (as successor to Wells Fargo Bank, National Association), as trustee at 4.375% per annum and ... 5.000% per annum maturing July 1, 2030 and the 2035 Notes will mature on July 1, 2035.

Instrument: senior notes
Principal: $475 million 4.375% Senior Notes due 2030 and $400 million 5.000% Senior Notes due 2035
Counterparty: Computershare Trust Company, N.A. (as successor to Wells Fargo Bank, National Association), as trustee
Rate: 4.375% per annum and ... 5.000% per annum
Maturity: July 1, 2030 and the 2035 Notes will mature on July 1, 2035
Event: incurrence

Exact text from the filing

On June 30, 2025, Public Storage Operating Company (“PSOC”), a subsidiary of Public Storage (the “Company”), completed the previously announced offering of $475 million 4.375% Senior Notes due 2030 (the “2030 Notes”) and $400 million 5.000% Senior Notes due 2035 (the “2035 Notes” and, together with the 2030 Notes, the “Notes”).

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Source: SEC EDGAR

accession 0001193125-25-152693

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