On April 1, 2026, Public Storage and its subsidiary Public Storage Operating Company (PSOC) entered into an underwriting agreement with BofA Securities, Inc. and J.P. Morgan Securities LLC to sell $500 million aggregate principal amount of senior notes due 2035.

1. 01

   On April 1, 2026, Public Storage and its subsidiary Public Storage Operating Company (PSOC) entered into an underwriting agreement with BofA Securities, Inc. and J.P. Morgan Securities LLC to sell $500 million aggregate principal amount of senior notes due 2035.

2. 02

   The company said the notes will bear interest at an annual rate of 5.000%, will be issued at 99.182% of par value and will mature on December 15, 2035. Interest will be paid semi-annually on June 15 and December 15, with the first payment on June 15, 2026.

3. 03

   The company said the notes will be issued by PSOC and guaranteed by the company, and will be offered pursuant to a Form S-3 shelf registration statement filed on December 2, 2024. The offering is expected to close on April 6, 2026, subject to the satisfaction of customary closing conditions.

4. 04

   Public Storage said PSOC expects to use the net proceeds to repay amounts under its revolving credit facility and for general corporate purposes, including to make investments in self-storage facilities, repayment of debt and the redemption of outstanding securities.

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Original filing

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