Life Storage (LSI) prices $400 million senior notes offering.

Life Storage, Inc. announced today that its operating partnership has priced an offering of $400 million 2.20% senior unsecured notes due 2030.  The notes were priced at a discount to yield 2.253% or +155 basis points to the treasury curve.  Proceeds will be used to redeem the company's $100 million senior notes due 2021 and amounts outstanding under its unsecured line of credit.

Established in 1985, Life Storage is a national owner of self-storage properties with a total managed portfolio of 880 facilities in 29 states.  LSI has a total market capitalization of approximately $6.5 billion and is a member of the S&P MidCap 400 index.


09/10/2020