SmartStop Closes Canadian Maple Bond Offering for CAD $200 Million
LADERA RANCH, Calif. — SmartStop Self Storage REIT, Inc. (“SmartStop”) (NYSE: SMA), an internally managed real estate investment trust and a premier owner and operator of self-storage facilities in the United States and Canada, announced that it has closed a CAD $200 million aggregate principal amount of Series C Senior Unsecured Notes, due February 18, […]
SmartStop Self Storage REIT, Inc. has closed a CAD $200 million aggregate principal amount of Series C Senior Unsecured Notes, due February 18, 2031. The Notes, issued by SmartStop OP, L.P., bear interest at approximately 4.317% per annum, payable semiannually starting February 18, 2027.
The Notes have been rated BBB with a Stable Outlook by Morningstar DBRS. According to Investing.com, SmartStop used the net proceeds to repay existing debt, including amounts drawn under its revolving credit facility, and for general corporate purposes.
This marks SmartStop's third senior unsecured Canadian bond offering. The company operates self-storage facilities in the United States and Canada. As of the report, SmartStop has an owned or managed portfolio of more than 460 facilities.
Brief written by urgent.news from Financial Post, Investing.com — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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- SmartStop Self Storage closes CAD $200M bond offering investing.com