Life Storage offers fixed-rate notes due 2029 via three bookrunners

By Devika Patel

Knoxville, Tenn., May 22 – Life Storage LP is expected to sell fixed-rate senior notes due 2029, according to a 424B5 filing with the Securities and Exchange Commission.

The notes feature a make-whole call until 90 days prior to maturity and then a par call.

Citigroup Global Markets Inc., Wells Fargo Securities LLC and U.S. Bancorp Investments Inc. are the bookrunners.

The notes are guaranteed by Life Storage, Inc.

Proceeds will be used to repay in full the company’s $100 million unsecured term note that matures June 4, 2020 and outstanding borrowings under its unsecured line of credit, with the balance to be used for general corporate purposes.

Life Storage is a Williamsville, N.Y.-based real estate investment trust that owns and manages self-storage properties.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.