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GLENDALE, Calif., Jun 06, 2012 (BUSINESS WIRE) -- John Reyes,Senior Vice President and Chief Financial Officer of Public Storage(NYSE:PSA), announced that the Company has priced a public offeringof 10,000,000 depositary shares at $25.00 per depositary share,with each depositary share representing 1/1,000 of a 5.625%Cumulative Preferred Share of Beneficial Interest, Series U. Theoffering is expected to result in $250 million of gross proceeds(assuming no exercise of the underwriters' overallotment option)and to close on or about June 15, 2012. The Company expects to usea portion of the net proceeds to redeem our 7.0% CumulativePreferred Shares, Series N, and for other general corporatepurposes. Merrill Lynch, Pierce, Fenner & Smith Incorporated, MorganStanley & Co. LLC, UBS Securities LLC and Wells FargoSecurities, LLC acted as joint book-running managers for theoffering. This announcement shall not constitute an offer to sellor a solicitation of an offer to buy these securities nor shallthere be any offer or sale of these securities in any state orjurisdiction in which such an offer, solicitation or sale would beunlawful. The offering will be made only by means of a prospectusand prospectus supplement, copies of which may be obtained bycontacting Merrill Lynch, Pierce, Fenner & Smith Incorporatedtoll-free at 1-800-294-1322, Morgan Stanley & Co. LLC toll-freeat 1-866-718-1649, UBS Securities LLC toll-free at 1-877-827-6444ext. 561-3884 or Wells Fargo Securities, LLC toll-free at1-800-326-5897. Company Information Public Storage, a member of the S&P 500 andFT Global 500, is a fully integrated, self-administered andself-managed real estate investment trust that primarily acquires,develops, owns and operates self-storage facilities. The Company'sheadquarters are located in Glendale, California. At March 31,2012, the Company had interests in 2,064 self-storage facilitieslocated in 38 states with approximately 131 million net rentablesquare feet in the United States and 189 storage facilities locatedin seven Western European nations with approximately ten millionnet rentable square feet operated under the "Shurgard" brand. TheCompany also owns a 42% common equity interest in PS BusinessParks, Inc. (NYSE:PSB) which owned and operated approximately 27.2 millionrentable square feet of commercial space, primarily flex,multi-tenant office and industrial space, at March 31, 2012. Forward-Looking Statements When used within this press release, thewords "expects," "anticipates," "intends" and similar expressionsare intended to identify "forward-looking statements," includingbut not limited to, statements about the completion, timing andsize of the proposed offering of securities by the Company and theuse of net proceeds of such offering. Such forward-lookingstatements involve known and unknown risks, uncertainties and otherfactors, which may cause our actual results to be materiallydifferent from those expressed or implied in the forward-lookingstatements. Such factors include market conditions and the demandfor the Company's preferred securities and risks detailed in theCompany's prospectus and prospectus supplement filed with the SECin connection with this offering and in the Company's SEC reports,including quarterly reports on Form 10-Q, reports on Form 8-K andannual reports on Form 10-K. We undertake no obligation to publiclyupdate or revise forward-looking statements which may be made toreflect events or circumstances after the date of this release orto reflect the occurrence of unanticipated events, except asrequired by law. SOURCE: Public Storage CONTACT: Public Storage Clemente Teng (818)244-8080, Ext. 1141 Copyright Business Wire 2012 -0- KEYWORD:United States North America California INDUSTRY KEYWORD: REIT Construction & Property Commercial Building & Real Estate SUBJECT CODE: Funding Share Issue. We are high quality suppliers, our products such as China High Power Led Floodlights , Led Par Bulbs for oversee buyer. To know more, please visits High Bay Lights Fixtures.
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