debt
confidence high
sentiment neutral
materiality 0.50
Extra Space Storage Inc. (EXR): debt financing — Extra Space Storage LP issues $800M of 4.950% Senior Notes due 2033
Extra Space Storage Inc.
- Issued $800M aggregate principal amount of 4.950% Senior Notes due 2033 at 99.739% of par.
- Interest payable Jan 15 and Jul 15, beginning Jan 15, 2026; maturity Jan 15, 2033.
- Notes are senior unsecured obligations of Extra Space Storage LP, fully guaranteed by Extra Space Storage Inc. and two business trusts.
- Issuer may redeem notes at make-whole premium before Nov 15, 2032, then at par plus accrued interest.
- Indenture includes restrictive covenants limiting additional indebtedness and requiring unencumbered asset pool.