MALVERN, Pa., Nov. 18, 2021 (GLOBE NEWSWIRE) -- CubeSmart (NYSE: CUBE) (the “Company” or “CubeSmart”), the third-largest owner and operator of self-storage properties in the United States, today announced that its operating partnership, CubeSmart, L.P. (the “Operating Partnership”), priced an offering of $550 million aggregate principal amount of 2.25% senior unsecured notes due 2028 (the “2028 Notes”) and $500 million aggregate principal amount of 2.50% senior unsecured notes due 2032 (the “2032 Notes” and together with the 2028 Notes, the “Notes”) in an underwritten public offering. The 2028 Notes were priced at 99.515% of the principal amount with a yield to maturity of 2.325%, and the 2032 Notes were priced at 99.219% of the principal amount with a yield to maturity of 2.587%. The Notes will be fully and unconditionally guaranteed by CubeSmart. The offering of the Notes is expected to close on November 30, 2021, subject to the satisfaction of customary closing conditions.
CubeSmart Announces Pricing of $550 Million 2.25% Senior Unsecured Notes Due 2028 and $500 Million 2.50% Senior Unsecured Notes Due 2032
Nov 18, 2021
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