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Life Storage markets offering of guaranteed senior notes due 2027
By Cristal Cody
Tupelo, Miss., Nov. 28 – Life Storage LP is marketing an offering of senior notes due 2027 on Tuesday, according to a 424B5 filing with the Securities and Exchange Commission.
The notes are fully and unconditionally guaranteed by parent company Life Storage, Inc.
Wells Fargo Securities LLC, Citigroup Global Markets Inc. and SunTrust Robinson Humphrey Inc. are the bookrunners.
Proceeds will be used to repay $225 million owed under the company’s $325 million term note due June 4, 2020 and amounts owed under its line of credit that matures Dec. 10, 2019.
Life Storage is a Williamsville, N.Y.-based real estate investment trust that owns and manages self-storage properties.
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