Extra Space Storage announced that its operating partnership, Extra Space Storage LP, has priced a public offering of $550 million in senior notes. The company intends to use the net proceeds to repay existing debt and for general corporate purposes, including funding potential acquisitions.
Key Details
- Offering Details: $550 million aggregate principal amount of 4.900% senior notes due February 1, 2032, priced at 99.702% of the principal amount.
- Timeline: The underwriting agreement was entered into on June 24, 2026, and the offering is expected to close on or about July 6, 2026.
- Use of Proceeds: To repay amounts outstanding under its lines of credit and commercial paper program, and for general corporate and working capital purposes, including potential acquisitions.