CubeSmart to sell fixed-rate guaranteed notes to fund debt repayment

By Devika Patel

Knoxville, Tenn., Jan. 24 – CubeSmart, LP is expected to price an offering of fixed-rate guaranteed senior notes, according to a 424B5 filing with the Securities and Exchange Commission.

The notes feature a make-whole call and then a par call.

The bookrunners are Wells Fargo Securities LLC, Barclays and Jefferies & Co.

The notes will be guaranteed by CubeSmart.

Proceeds will be used to repay $200 million of debt under the unsecured term loan portion of CubeSmart’s credit facility due January 2019 and for working capital and other general corporate purposes, which may include debt repayment or repurchases.

The real estate investment trust of self-storage facilities is based in Wayne, Pa.

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