CubeSmart Prices Senior Unsecured Notes

CubeSmart, a self-managed and self-administered real estate company, said Friday that its operating partnership CubeSmart, L.P. has priced an offering of $50 million aggregate principal amount of 4.375% senior unsecured notes due 2023 and $50 million aggregate principal amount of 4.000% senior unsecured notes due 2025 in an underwritten public offering.

The 2023 notes were priced at 105.040% of the principal amount, plus accrued and unpaid interest from, and including, Dec. 15, 2016 to, but excluding, the delivery date. The 2023 notes will mature on Dec. 15, 2023 and will form a part of the same series as CubeSmart, L.P.’s previously issued 4.375% senior unsecured notes due 2023, $250 million of which are currently outstanding.

The 2025 notes were priced at 101.343% of the principal amount, plus accrued and unpaid interest from, and including, Nov. 15, 2016 to, but excluding, the delivery date. The 2025 notes will mature on Nov. 15, 2025 and will form a part of the same series as CubeSmart, L.P.’s previously issued 4.000% senior unsecured notes due 2025, $250 million of which are currently outstanding.

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