Public Storage (PSA) prices €700 million senior note offering.

Public Storage (PSA) announced today that it has priced a €700 million offering of 0.500% senior unsecured notes due 2030.  The notes were priced at a discount to yield 0.570% or +65 basis points to the mid-swap yield.  PSA said that proceeds from the offering would be used to fund investments in additional storage facilities and development of new properties.

Established in 1972, Public Storage is the largest owner/operator of self-storage properties in the U.S. with 2,649 properties in 39 states. PSA has a total market capitalization of approximately $61 billion and is a member of the S&P 500 and FT Global 500 equity indexes.