CubeSmart Announces Pricing of 5.125% Senior Unsecured Notes Due 2035

Core Viewpoint - CubeSmart, the third-largest owner and operator of self-storage properties in the U.S., announced a public offering of $450 million in senior unsecured notes due 2035, with a yield to maturity of 5.295% [1][2]. Group 1: Offering Details - The offering consists of $450 million aggregate principal amount of 5.125% senior unsecured notes priced at 98.656% of the principal amount [1]. - The notes will be fully guaranteed by CubeSmart and are expected to close on August 20, 2025, subject to customary closing conditions [1][2]. - The proceeds from the offering will be used to repay outstanding indebtedness under the unsecured revolving credit facility and for general corporate purposes [2]. Group 2: Management and Underwriters - Wells Fargo Securities, BofA Securities, and PNC Capital Markets LLC are acting as joint book-running managers for the offering [3]. - Regions Securities LLC and US Bancorp are serving as senior co-managers, while several other firms are acting as co-managers [3]. Group 3: Company Overview - As of June 30, 2025, CubeSmart owned or managed 1,532 self-storage properties across the United States [6]. - CubeSmart is recognized as one of the top three owners and operators of self-storage properties in the U.S. according to the 2025 Self Storage Almanac [6]. - The company's mission focuses on simplifying organizational and logistical challenges for customers through innovative solutions and exceptional service [7].