European Investor
04 Oct 2025, 09:02
Public Storage Issues €425 Million in 3.5% Senior Notes Due 2034
Public Storage announced that its subsidiary, Public Storage Operating Company (PSOC), has completed a €425 million offering of 3.500% senior notes due 2034. The notes, guaranteed by Public Storage, were issued under an existing indenture and will mature on January 20, 2034, with annual interest payments starting January 20, 2026.
The company may redeem the notes in whole or in part at a make-whole redemption price, or at par starting three months before maturity. Proceeds will be used for general corporate purposes. The notes are unsecured and rank equally with PSOC’s other unsubordinated debt. The indenture includes covenants limiting indebtedness and requiring unencumbered assets equal to at least 125% of total unsecured debt.
Public Storage announced that its subsidiary, Public Storage Operating Company (PSOC), has completed a €425 million offering of 3.500% senior notes due 2034. The notes, guaranteed by Public Storage, were issued under an existing indenture and will mature on January 20, 2034, with annual interest payments starting January 20, 2026.
The company may redeem the notes in whole or in part at a make-whole redemption price, or at par starting three months before maturity. Proceeds will be used for general corporate purposes. The notes are unsecured and rank equally with PSOC’s other unsubordinated debt. The indenture includes covenants limiting indebtedness and requiring unencumbered assets equal to at least 125% of total unsecured debt.
