Public Storage Operating Company closes €425M 3.5% senior notes due 2034

Public Storage

PSOC issued €425M 3.500% senior notes due Jan 20, 2034; parent Public Storage guarantees.
Interest payable annually from Jan 20, 2026; notes rank equally with existing unsecured debt.
Make-whole redemption before Oct 20, 2033; after that par plus accrued.
Covenants limit secured/unsecured debt and require unencumbered assets ≥125% of unsecured debt.
Issued under shelf registration; prospectus supplement filed Sep 26, 2025.

item 1.01 item 2.03 item 9.01

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 €425,000,000 with investors at 3.500% per annum maturing January 20, 2034.

Instrument: senior notes
Principal: €425,000,000
Counterparty: investors
Rate: 3.500% per annum
Maturity: January 20, 2034
Event: incurrence

Exact text from the filing

On October 3, 2025, Public Storage Operating Company (“PSOC”), a subsidiary of Public Storage (the “Company”), completed the previously announced offering of €425,000,000 3.500% Senior Notes due 2034 (the “Notes”).

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Source: SEC EDGAR

accession 0001193125-25-230340

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