Public Storage (PSA) prices €500 million senior notes offering.
Public Storage (PSA) announced today that it had priced a €500 million offering of 0.875% senior notes due 2032. Proceeds will be used for general corporate purposes, including development, and will create a partial hedge against PSA's 35% interest in Shurgard Self Storage SA, which had a market value of approximately US$1.0 billion based on Shurgard's September 30, 2019 closing stock price of €29.25.
Established in 1972, Public Storage is the largest owner / operator of self-storage properties in the U.S. with over 2,400 properties in 38 states. PSA is a member of the S&P 500 and FT Global 500 indexes.