Message #10 From:
NewsBot Date: October 17, 2006 02:26:00 PM
PSA News Public Storage, Inc. Announces Pricing of 6.75% Cumulative Preferred Stock, Series L
GLENDALE, Calif.--(BUSINESS WIRE)--John Reyes, Senior Vice President and Chief Financial Officer of Public
Storage, Inc. (NYSE:PSA), announced that the Company has priced a public
offering of 8,000,000 depositary shares at $25.00 per share, with each
depositary share representing 1/1,000 of a share of 6.75% Cumulative
Preferred Stock, Series L. The offering is expected to result in $200
million of gross proceeds (assuming no exercise of the underwriters’
overallotment option) and is expected to close on or about October 20,
2006.
Citigroup Global Markets Inc., Merrill Lynch & Co., Morgan Stanley and
Wachovia Securities acted as joint book-running managers for the
offering. Copies of the prospectus and prospectus supplement may be
obtained by contacting Citigroup Global Markets Inc. toll-free at
1-877-858-5407.
Company Information
Public Storage, Inc., a member of the S&P 500 and the Forbes Global
2000, is a fully integrated, self-administered and self-managed real
estate investment trust that primarily acquires, develops, owns and
operates storage facilities. The Company’s
headquarters are located in Glendale, California. The Company’s
storage properties are located in 38 states and seven European nations
(Belgium, Denmark, France, Germany, Sweden, the Netherlands and the
United Kingdom). At August 31, 2006, the Company had interests in 2,163
storage facilities with approximately 135 million net rentable square
feet.
Additional information about Public Storage, Inc. is available on the
Internet. The Company’s web site is www.publicstorage.com.
