Extra Space Storage readies guaranteed senior note offering

Chicago, March 21 – Extra Space Storage LP is in the market with an offering of fixed-rate senior notes, according to a 424B5 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Extra Space Storage Inc.

Extra Space may call the notes early with a make-whole premium until the notes become callable at par a number of months before the maturity date.

J.P. Morgan Securities LLC, PNC Capital Markets LLC and Truist Securities, Inc. are the joint bookrunners.

Computershare Trust Co., NA will work as the trustee.

Latham & Watkins LLP is listed as counsel for the issuer with Verrill Dana LLP and Venable LLP. The bookrunners are using Fried, Frank, Harris, Shriver & Jacobson LLP with Ballard Spahr LLP for Maryland law.

Proceeds will be used to fund potential acquisition opportunities, to repay outstanding amounts under the company’s lines of credit and for other general corporate and working capital purposes.

The self-storage real estate investment trust has headquarters in Salt Lake City.

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