Message #17 From:
NewsBot Date: January 4, 2007 02:09:00 PM
PSA News Public Storage, Inc. Announces Pricing of 6.625% Cumulative Preferred Stock, Series M
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 20,000,000 depositary shares at $25.00 per share, with each
depositary share representing 1/1,000 of a share of 6.625% Cumulative
Preferred Stock, Series M. The offering is expected to result in $500
million of gross proceeds and is expected to close on or about January
9, 2007.
Merrill Lynch & Co., Citigroup Global Markets Inc., Morgan Stanley & Co.
Incorporated and Wachovia Securities acted as joint book-running
managers for the offering. Copies of the prospectus and prospectus
supplement may be obtained from the offices of Merrill Lynch & Co., 4
World Financial Center, New York, New York 10080 or by calling
1-866-500-5408.
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.
At September 30, 2006, the Company had interests in 2,003 storage
facilities with approximately 126.4 million net rentable square feet in
the United States and 160 storage facilities with approximately 8.4
million net rentable square feet in Europe.
Additional information about Public Storage, Inc. is available on the
Internet. The Company’s web site is www.publicstorage.com.
