Public Storage Announces Issuance of C$400 Million Senior Notes

Details

The notes, bearing an annual interest rate of 4.540%, will be issued at par value and mature on September 16, 2033. PS Canada will pay interest semi-annually on March 16 and September 16 of each year, starting March 16, 2027. The offering is expected to close on September 16, 2026, subject to customary closing conditions. The Company expects to use the net proceeds to replenish cash used to fund the Public Storage Canada acquisition and for other general corporate purposes, including investments in self-storage facilities, debt repayment, and redemption of outstanding securities.

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About Public Storage Common Stock

Public Storage Common Stock represents ownership in Public Storage, a real estate investment trust specializing in self-storage facilities. The company focuses on acquiring, developing, owning, and operating properties that provide storage units to individuals and businesses for personal, household, and commercial use. Public Storage operates across multiple U.S. states and is recognized as one of the largest self-storage providers by rentable square footage, giving it broad geographic and customer diversification. Its core business is supported by additional services, including the sale of storage-related merchandise, third-party property management for other self-storage owners, and insurance products that help customers protect stored goods. These activities position Public Storage as a significant participant in the real estate sector, particularly within the storage-focused REIT segment. The company is headquartered in Frisco, Texas, and was founded in 1972, serving a wide range of customers who seek flexible, short- and long-term storage solutions.