The company said its subsidiary Extra Space Storage LP completed an underwritten public offering of $500,000,000 aggregate principal amount of its 5.400% Senior Notes due 2035 on March 19, 2025.

1. 01

   The company said its subsidiary Extra Space Storage LP completed an underwritten public offering of $500,000,000 aggregate principal amount of its 5.400% Senior Notes due 2035 on March 19, 2025.

2. 02

   Extra Space Storage said the Notes were priced at 99.830% of principal amount and bear interest at 5.400% per year, payable on June 15 and December 15 each year beginning June 15, 2025, with maturity on June 15, 2035.

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 said the Notes are effectively subordinated to all secured debt of the Issuer, to the extent of the collateral, and to all 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 principal and a make-whole premium, plus accrued unpaid interest, and that from March 15, 2035 the redemption price is 100% of principal plus accrued unpaid interest. Events of default include failure to pay debt of more than $100.0 million in borrowed money.

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Original filing

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