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Extra Space Storage increases its senior unsecured credit facility to $1.35B

Dec. 11, 2018 6:21 AM ETExtra Space Storage Inc. (EXR) StockBy: Niloofer Shaikh, SA News Editor1 Comment
  • Extra Space Storage (NYSE:EXR) successfully amended and restated its senior unsecured credit facility, upsizing the total capacity by $200M to a total of $1.35B.
  • The credit facility consists of a $650M senior unsecured revolving credit facility due January 2023, a $480M senior unsecured term loan due January 2024 and a $220M senior unsecured term loan due October 2023.
  • Pricing at closing will be an initial interest rate of LIBOR + 1.10% for the senior unsecured revolving credit facility and LIBOR + 1.25% for the senior unsecured term loans due January 2024 and October 2023.

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