Public Storage Announces Issuance of $500 Million Senior Notes

Summary

On April 1, 2026, Public Storage and its subsidiary, Public Storage Operating Company (PSOC), entered into an underwriting agreement for the sale of $500 million aggregate principal amount of senior notes due 2035. The notes, issued by PSOC and guaranteed by Public Storage, will bear interest at an annual rate of 5.000% and mature on December 15, 2035. PSOC intends to use the net proceeds to repay amounts under its revolving credit facility and for general corporate purposes, including investments in self-storage facilities, repayment of debt, and redemption of outstanding securities. The offering is expected to close on April 6, 2026, subject to customary closing conditions.