Extra Space Storage (EXR) said Monday that its operating partnership, Extra Space Storage, priced a public offering of $500 million of 5.4% senior notes due June 15, 2035, at 99.83% of the principal amount.
The company said it plans to use the net proceeds to repay amounts outstanding under its lines of credit and its commercial paper program, and for other general corporate and working capital purposes.
The offering is expected to close on or about March 19.
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