Public Storage Prices $500M Senior Notes Offering

The self-storage company raised half a billion dollars through a new bond issuance.

Apr. 2, 2026 at 12:26am

Got story updates? Submit your updates here. ›

Public Storage, a leading self-storage real estate investment trust (REIT), has announced the pricing of $500 million aggregate principal amount of 5.000% Senior Notes due 2036. The notes were priced at 99.412% of the principal amount, with a yield to maturity of 5.057%. The offering is expected to close on April 15, 2026, subject to customary closing conditions.

Why it matters

This debt offering allows Public Storage to raise capital for potential acquisitions, development projects, and other corporate purposes. As one of the largest self-storage operators in the U.S., Public Storage's ability to access the debt markets at favorable rates is a key part of its growth strategy.

The details

The 5.000% Senior Notes due 2036 were issued by Public Storage and will be senior unsecured obligations of the company. The net proceeds from the offering are expected to be used for general corporate purposes, which may include funding potential acquisitions, development projects, and other growth initiatives.

  • The notes were priced on April 1, 2026.
  • The offering is expected to close on April 15, 2026.

The players

Public Storage

A leading self-storage real estate investment trust (REIT) that owns and operates over 2,500 self-storage facilities across the United States.

Got photos? Submit your photos here. ›

What’s next

Public Storage will use the proceeds from the bond offering to fund future growth and expansion initiatives.

The takeaway

This debt offering demonstrates Public Storage's ability to access the capital markets at favorable rates, which will support the company's continued growth and expansion in the self-storage industry.