SmartStop Closes C$200 Million Senior Notes Offering to Refinance Debt

SmartStop Self Storage REIT, Inc. (SMA) announced that its operating partnership has completed a private placement of C$200 million in senior unsecured notes in Canada. The proceeds will be used primarily to repay existing debt, including amounts on its revolving credit facility, and for general corporate purposes.

Key Details

• Offering: C$200 million aggregate principal amount of 4.317% Senior Unsecured Notes.
• Terms: The notes mature on February 18, 2031, with interest payable semiannually.
• Use of Proceeds: Funds are designated for repaying existing indebtedness and have substantially completed the refinancing of 2026 debt maturities.
• Rating: The notes are rated BBB with a stable outlook by Morningstar DBRS.