CubeSmart (CUBE) prices $1.050 billion senior notes offering.
CubeSmart (CUBE) announced today that it has priced a total of $1.050 billion senior unsecured notes. Proceeds will be used to provide acquisition financing for the $1.7 billion Storage West portfolio, which is expected to close in the fourth quarter. The bond offering included:
- $550 million 2.250% senior unsecured notes due 2028. The notes were priced to yield 2.325% or +85 bp to the treasury curve.
- $500 million 2.500% senior unsecured notes due 2032. The notes were priced to yield 2.587% or +100 bp to the treasury curve.