Public Storage disclosed that its subsidiary, PS Canada Finance ULC, entered into an underwriting agreement to sell C$400 million in senior notes. The notes will be fully guaranteed by Public Storage and its operating subsidiary, Public Storage Operating Company. Net proceeds are expected to replenish cash used for the Public Storage Canada acquisition and for general corporate purposes.
Key Details
- Offering Amount: C$400 million aggregate principal amount of senior notes.
- Note Terms: The notes will bear interest at a 4.540% annual rate, payable semi-annually, and will mature on September 16, 2033.
- Timeline: The agreement was signed on September 9, 2026, and the offering is expected to close on September 16, 2026.