Public Storage to redeem 6.375% series Y preferreds for $285 million

By Wendy Van Sickle

Columbus, Ohio, Feb. 22 – Public Storage called all outstanding depositary shares representing interests in its 6.375% cumulative preferred shares, series Y, according to a press release.

The preferreds will be redeemed on March 28 at $25.00 per depositary share. The total redemption amount is $285 million.

Public Storage is a Glendale, Calif., real estate investment trust that acquires, develops, owns and operates self-storage facilities.

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