debt
confidence high
sentiment positive
materiality 0.50
SmartStop closes CAD $200M 4.317% senior notes due 2031; refinances 2026 maturities
SmartStop Self Storage REIT, Inc.
- CAD $200M aggregate principal of 4.317% senior unsecured notes due Feb 18, 2031, priced at par.
- Rated BBB (Stable) by Morningstar DBRS; issued by SmartStop OP, L.P., guaranteed by company and subsidiaries.
- Proceeds used to repay existing indebtedness, including revolver draws, and general corporate purposes.
- Third Maple Bond in Canada; CEO says substantially completed refinance of 2026 debt maturities.
- Interest payable semiannually starting Feb 18, 2027.