Public Storage Sells a Preferred Issue

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Large Storage REIT Public Storage has sold a new issue of preferred stock.  It has been some time since the company, which is a large issuer of preferred stocks, has sold an issue.

This issue has a coupon of 5.875%.  Proceeds will be used for general corporate purposes since they have no outstanding issues that are redeemable at this time.

Details of the issue are here.

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