Public Storage Operating Company (PSOC) announced today that it has priced a public offering of €425 million aggregate principal amount of senior notes due 2034. The notes carry an annual interest rate of 3.500 % and were issued at 99.447 % of par value, with interest payable annually and a maturity date of January 20, 2034.
The offering is guaranteed by Public Storage, providing additional credit support for the debt. The euro‑denominated notes diversify the company’s funding base and allow it to tap a European investor pool while maintaining a senior, unsecured status.
This financing adds liquidity to Public Storage’s balance sheet and provides a low‑cost source of capital that can be used to fund ongoing acquisitions, development projects, and other growth initiatives, reinforcing the company’s strong financial position.
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