Public Storage Announces New $3.0 Billion Credit Facility and $1.0 Billion Commercial Paper Program

Summary

Public Storage has entered into a new $3.0 billion unsecured revolving credit facility and a $500 million delayed draw term loan facility, replacing its existing $1.5 billion revolving credit facility. Additionally, the company has established a $1.0 billion unsecured commercial paper program. These actions are intended to strengthen the company's balance sheet, enhance liquidity, and provide financial flexibility for future growth opportunities.