PSA - Public Storage raises 2B to fund $1.8B acquisiton of ezStorage

Public Storage ([[PSA]] +1.3%) has priced $2B of senior notes offering in three tranches.The first tranche consists of $700M of floating rate senior notes due due April 23, 2024 will bear interest at a rate equal to Compounded SOFR reset quarterly, plus 47 bps, priced at 100% of par value. Interest on the floating rate notes will be payable quarterly on January 23, April 23, July 23 and October 23 of each year, commencing July 23, 2021.The second tranche of $650M of 1.850% fixed rate senior notes due May 1, 2028 priced at 99.928% of par value.The third tranche of $650M of 2.3% fixed rate senior notes due May 1, 2031 priced at 99.653% of par value.Interest on the fixed rate notes will be payable semi-annually on May 1 and November 1 of each year, commencing November 1, 2021. Offering is expected to close on April 23.The company expects to use the

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Public Storage raises 2B to fund $1.8B acquisiton of ezStorage