The company said its subsidiary Extra Space Storage LP completed an underwritten public offering of $600,000,000 aggregate principal amount of its 5.400% Senior Notes due 2034 on January 19, 2024. The offering price was 99.745% of the principal amount.

1. 01

   The company said its subsidiary Extra Space Storage LP completed an underwritten public offering of $600,000,000 aggregate principal amount of its 5.400% Senior Notes due 2034 on January 19, 2024. The offering price was 99.745% of the principal amount.

2. 02

   The company said the Notes bear interest at 5.400% per year, with interest payable on February 1 and August 1 of each year, beginning on August 1, 2024, and mature on February 1, 2034.

3. 03

   The company said the Notes are senior unsecured obligations of the Issuer and are fully and unconditionally guaranteed by the company and ESS Holdings Business Trust I and II. It added that the Notes are effectively subordinated in right of payment to secured debt and to the debt and other liabilities of the Issuer's subsidiaries.

4. 04

   The company said the Issuer may redeem the Notes at a price equal to the greater of 100% of the principal amount or a make-whole premium, plus accrued and unpaid interest. On or after November 1, 2033, the redemption price will be 100% of the principal amount, plus accrued and unpaid interest. Events of default include failure to pay interest for 30 days.

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Original filing

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