{"schema_version":"secwatch.filing_event.v1","accession":"0001289490-25-000017","form_type":"8-K","ticker":"EXR","cik":"0001289490","company_name":"Extra Space Storage Inc.","filed_at":"2025-08-26T23:59:59+00:00","discovered_at":"2026-05-14T18:02:43.598397+00:00","generated_at":"2026-05-17T09:54:02.885132+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"confidence":"high","headline":"Extra Space Storage enters $4.5B credit agreement; revolver upsized to $3B, maturity 2029","bullets":["New $4.5B unsecured facility: $3.0B revolver due 2029, three term loans totaling $1.5B due 2026, 2028, 2029.","Facility replaces June 2023 credit agreement; capacity can be increased up to $5.5B.","Interest at SOFR plus margins from 0.70%-1.60% based on credit ratings; unsecured, guaranteed by the REIT.","Covenants include max leverage 60%, max secured debt 40%, min EBITDA/fixed charges 1.50x.","Proceeds for general corporate purposes, working capital, and acquisitions."],"urls":{"canonical":"https://secwatch.observer/filing/0001289490-25-000017","json":"https://secwatch.observer/filing/0001289490-25-000017.json","markdown":"https://secwatch.observer/filing/0001289490-25-000017.md","text":"https://secwatch.observer/filing/0001289490-25-000017.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1289490/000128949025000017/0001289490-25-000017-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1289490/000128949025000017/exr-20250821.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T09:54:02.885132+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"efdd1f5c7e2411b5e8ea87ad90ca3e847f9c9933","claim":"Extra Space Storage Inc. incurred credit facility of up to $4.5 billion with U.S. Bank National Association at Term SOFR plus the applicable SOFR rate margin maturing August 21, 2029.","evidence_excerpt":"The Credit Agreement provides for aggregate borrowings of up to $4.5 billion, consisting of a senior unsecured revolving credit facility of $3.0 billion, due August 21, 2029","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1289490/000128949025000017/0001289490-25-000017-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"credit facility"},{"label":"Principal","value":"up to $4.5 billion"},{"label":"Counterparty","value":"U.S. Bank National Association"},{"label":"Rate","value":"Term SOFR plus the applicable SOFR rate margin"},{"label":"Maturity","value":"August 21, 2029"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}