NSR 0.82% $2.41 national storage reit

News: NSR National Storage REIT Launches A Fully Underwritten $300 Mln Placement

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    May 5 (Reuters) - National Storage Reit (NSR) :

    • LAUNCHES A FULLY UNDERWRITTEN $300 MILLION INSTITUTIONAL PLACEMENT
    • LAUNCHES A NON-UNDERWRITTEN SECURITY PURCHASE PLAN TO RAISE UP TO A FURTHER $30 MILLION
    • POST PLACEMENT, CO WILL HAVE CASH & UNDRAWN DEBT FACILITIES OF $628 MILLION
    • NATIONAL STORAGE REIT-AROUND $120 MILLION OF ACQUISITION & DEVELOPMENT OPPORTUNITIES UNDER ACTIVE CONSIDERATION
    • COVID-19 PANDEMIC MAY PROVIDE ADDITIONAL ACQUISITION AND DEVELOPMENT OPPORTUNITIES OVER NEXT 12-18 MONTHS
    • PLACEMENT WILL BE ISSUED AT A FIXED PRICE OF $1.57 PER STAPLED SECURITY
    • UPDATES FY20 EARNINGS GUIDANCE TO BETWEEN 8.2 TO 8.7 CENTS PER STAPLED SECURITY
 
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