National Storage Affiliates repaid in full and terminated four syndicated credit facilities upon closing its merger with Public Storage. The agreements, led by KeyBank, Capital One, BMO, and Huntington, were ended early on the closing date with no material early termination penalties. The actions streamline the company’s capital structure and align financing arrangements under its new ownership.
Agreement 1: National Storage Affiliates Repays and Terminates 2023 KeyBank-Led Credit Facility After Merger
- Agreement terminated: Third Amended and Restated Credit Agreement (syndicated credit facility)
- Counterparty: KeyBank and syndicated lenders
- Original agreement date: Jan 03 2023
- Termination date: Jul 22 2026
- Termination type: Early
- Exit fees / payments: None
- Reason: Repayment and termination upon merger closing
Agreement 2: National Storage Affiliates Ends 2022 Capital One-Led Credit Agreement With No Penalties
- Agreement terminated: Credit Agreement (syndicated credit facility)
- Counterparty: Capital One and lenders
- Original agreement date: Jun 24 2022
- Termination date: Jul 22 2026
- Termination type: Early
- Exit fees / payments: None
- Reason: Repayment and termination upon merger closing
Agreement 3: National Storage Affiliates Retires 2019 BMO-Led Credit Facility Post-Closure of Merger
- Agreement terminated: Credit Agreement (syndicated credit facility)
- Counterparty: BMO and lenders
- Original agreement date: Apr 24 2019
- Termination date: Jul 22 2026
- Termination type: Early
- Exit fees / payments: None
- Reason: Repayment and termination upon merger closing
Agreement 4: National Storage Affiliates Terminates 2018 Huntington-Led Credit Agreement After Merger Close
- Agreement terminated: Credit Agreement (syndicated credit facility)
- Counterparty: Huntington and lenders
- Original agreement date: Dec 21 2018
- Termination date: Jul 22 2026
- Termination type: Early
- Exit fees / payments: None
- Reason: Repayment and termination upon merger closing
Original SEC Filing:
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