Public Storage (NYSE:PSA) is one of the Best Long Term Growth Stocks to Invest In According to Billionaires. On April 1, the company announced that its subsidiary, Public Storage Operating Company, priced a public offering of $500 million aggregate principal amount of fixed-rate senior notes that are due in 2035.
Notably, the notes will have an annual interest of 5%, which will be issued at 99.182% of par value. They will mature on December 15, 2035. The interest will be paid semi-annually on June 15 and December 15 of each year, starting from June 15, 2026.
Public Storage (NYSE:PSA)’s subsidiary, PSOC, plans to utilize net proceeds towards repaying amounts under the revolving credit facility and for general corporate purposes. These include making investments focused on self-storage facilities, debt repayment, and redemption of outstanding securities. The investments in self-storage facilities include acquisitions of facilities or interests in entities owning facilities, development, as well as mortgage loans that are secured by facilities.
Public Storage (NYSE:PSA) is a real estate investment trust that is primarily involved in owning and operating self-storage facilities.
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