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SmartStop Self Storage Closes $368 Million Maple Bond Offering

BY MT Newswires | CORPORATE | 06/16/25 05:56 PM EDT

05:56 PM EDT, 06/16/2025 (MT Newswires) -- SmartStop Self Storage REIT (SMA) said late Monday its operating partnership, SmartStop OP, closed a CA$500 million ($368.4 million) offering of series A senior unsecured notes due 2028.

The company said the transaction marks its entry into the Canadian Maple Bond market.

Proceeds from the notes, which bear a 3.91% interest rate, will be used to repay its 2027 NBC loan, acquire properties, reduce borrowings under its revolving credit facility, and for general corporate purposes.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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