CubeSmart upsizes revolving credit facility to $1B, extends maturity to 2030

CubeSmart, L.P.

Third Amended and Restated Credit Agreement provides $1B unsecured revolver, maturing June 24, 2030, replacing prior $850M facility.
Pricing at current ratings (BBB+/Baa1) is SOFR + 0.775% plus 0.15% facility fee; no SOFR floor.
Initial borrowings used to repay all outstanding under the prior credit facility.
Facility includes customary covenants: leverage and fixed charge coverage ratio tests.
CubeSmart and CubeSmart, L.P. are jointly and severally obligated under the facility.

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