Press Releases

Sovran Self Storage, Inc. Prices Offering of Senior Notes

BUFFALO, N.Y.--(BUSINESS WIRE)-- Sovran Self Storage, Inc. (NYSE:SSS), a self storage real estate investment trust (REIT), announced today that its operating partnership, Sovran Acquisition Limited Partnership (the “Operating Partnership”), priced an offering of $600 million aggregate principal amount of 3.500% Senior Unsecured Notes due 2026 (the “Notes”). The Notes will be issued at 99.447% of par value with a coupon of 3.500%. Interest on the Notes is payable semi-annually on January 1 and July 1 of each year, commencing on January 1, 2017. The Notes will mature on July 1, 2026. The offering is expected to close on June 20, 2016, subject to customary closing conditions.

The Operating Partnership expects to use the net proceeds from this offering to partially fund the LifeStorage, LP acquisition announced on May 19, 2016. Wells Fargo Securities, LLC, SunTrust Robinson Humphrey, Inc. and U.S. Bancorp Investments, Inc. are acting as joint book-running managers for the offering.

The Operating Partnership has filed an effective registration statement (including a prospectus supplement and accompanying base prospectus) with the Securities and Exchange Commission (the “SEC”) relating to the offering to which this communication relates. Before making an investment in the Notes, potential investors should read the prospectus supplement, the accompanying prospectus and the other documents that we and the Operating Partnership have filed with the SEC for more complete information about us and the offering. Potential investors may obtain these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus supplement and prospectus if you request it by contacting either:

  • Wells Fargo Securities, LLC, 608 2nd Avenue South, Suite 1000, Minneapolis, MN 55402, Attention: WFS Customer Service, by telephone at 1-800-645-3751 or by email at wfscustomerservice@wellsfargo.com.
  • SunTrust Robinson Humphrey, Inc., 303 Peachtree Street, Atlanta, GA 30308, Attn: Prospectus Dept, by telephone at 1-800-685-4786 or by email at STRHdocs@SunTrust.com.
  • U.S. Bancorp Investments, Inc., 214 North Tryon Street, 26th Floor, Charlotte, NC 28202, or via telephone at 1-877-558-2607.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these Notes in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offer or sale of the Notes will be made only by means of a prospectus supplement relating to the offering of the Notes and the accompanying prospectus.

About Sovran Self Storage, Inc.

Sovran Self Storage, Inc. is a self-administered and self-managed equity REIT that is in the business of acquiring and managing self storage facilities. The Company operates over 550 self storage facilities in 26 states under the name “Uncle Bob’s Self Storage”®.

Sovran Self Storage, Inc.
Diane Piegza, 716-650-6115
Vice President
Investor Relations and Community Affairs

Source: Sovran Self Storage, Inc.