Public Storage Announces $900 Million Senior Notes Offering

Summary

On July 9, 2026, Public Storage and its subsidiary, Public Storage Operating Company (PSOC), entered into an underwriting agreement for the sale of $900 million aggregate principal amount of senior notes in two tranches. The first tranche of $400 million due 2032 will bear interest at an annual rate of 4.700% and mature on February 1, 2032. The second tranche of $500 million due 2036 will bear interest at an annual rate of 5.150% and mature on August 15, 2036. The offering is expected to close on July 20, 2026, and the net proceeds will be used to finance the acquisition of National Storage Affiliates Trust, among other corporate purposes.