Public Storage enters amended $300 million revolving credit facility

By Jennifer Chiou

New York, July 18 - Public Storage entered into on July 17 the second amendment to its credit agreement providing for the ability to borrow up to $300 million under a revolving credit facility, according to an 8-K filing with the Securities and Exchange Commission.

The company may also request an increase of an additional $300 million, subject to certain conditions.

Under the amendment, borrowings will bear interest at Libor plus 90 basis points to 150 bps.

Public Storage is a Glendale, Calif.-based real estate investment trust.

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