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Public Storage enters €100M euro-denominated notes purchase agreement

Public Storageentered into a note purchase agreement and, in a private placement, issued €100million in aggregate principal amount of 1.54%, euro-denominated, senior unsecurednotes due April 12, 2024.

The company plans to use the proceeds of the sale of the notesfor general corporate purposes.

Interest on the notes will accrue from the issuance date of April12 and the company will pay interest semiannually on April 12 and Oct. 12 of eachyear, starting Oct. 12, until the notes mature, according to an April 14 filing.

The company may prepay some or all of the notes from time totime, subject to make-whole, swap breakage and other applicable provisions, accordingto the purchase agreement with the institutional accredited investors. Some subsidiariesof the company may be required to guarantee the obligations under the notes fromtime to time.

The notes have not been and will not be registered under theSecurities Act and may not be offered or sold in the U.S. absent registration oran applicable exemption from registration under the Securities Act.