Life Storage to price senior notes due 2031 via three bookrunners

By Marisa Wong

Los Angeles, Sept. 28 – Life Storage LP plans to price senior notes due 2031, according to a 424B5 filing with the Securities and Exchange Commission.

The notes will be guaranteed by parent company Life Storage, Inc.

Wells Fargo Securities, LLC, PNC Capital Markets LLC and U.S. Bancorp Investments, Inc. are the joint bookrunners.

The notes will feature a make-whole call and then a par call. The par call date will be 90 days prior to the maturity date.

Proceeds will be used for general corporate purposes, which may include funding future acquisitions of self-storage properties and repaying debt.

The real estate investment trust owns and manages self-storage properties and is based in Williamsville, N.Y.

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