Public Storage issues $900M in senior notes to finance National Storage Affiliates acquisition

Filed July 13, 2026 · Period ending July 9, 2026 · ~1 min read

Key Changes

• high

  Public Storage's operating subsidiary issued $900M in senior notes across two tranches ($400M 4.700% 2032 notes at 99.283% of par, $500M 5.150% 2036 notes at 98.553% of par) to partially finance the pending National Storage Affiliates Trust acquisition.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →
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  Proceeds will fund the NSA acquisition, including transaction fees and expenses, with additional uses for general corporate purposes including facility investments, debt repayment, and securities redemption.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →
• medium

  The 2032 notes carry a 4.700% annual rate with semi-annual interest payments starting February 2027; the 2036 notes carry a 5.150% rate with semi-annual payments starting February 2027.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →