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Public Storage's 5.2% series W preferreds admitted to trading on NYSE
By Tali David
Minneapolis, Jan. 17 - The depositary shares of Public Storage's 5.2% series W cumulative preferred shares of beneficial interest have been admitted to trading on the New York Stock Exchange, according to a notice.
The shares trade under the symbol "PSA PR W."
The preferreds were sold as depositary shares representing a 1/1,000th interest.
The company priced $450 million of the $25-par preferreds on Jan. 7.
As previously reported, Bank of America Merrill Lynch, Morgan Stanley & Co. LLC, UBS Securities LLC and Wells Fargo Securities LLC are the joint bookrunners.
The Glendale, Calif.-based real estate investment trust will use the proceeds to pay down a revolving credit facility and for general corporate purposes.
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