Public Storage entered into a Fourth Amended and Restated Credit Agreement on June 25, 2026. The agreement provides a $3.0 billion senior unsecured revolving credit facility, replacing a previous $1.5 billion facility. A new $500 million senior unsecured delayed draw term loan (DDTL) facility was established. The company also announced the establishment of a $1.0 billion unsecured commercial paper program. The revolving facility has an initial maturity of June 25, 2030, with extension options; the DDTL matures on June 25, 2031. The agreement includes an accordion feature allowing for up to $1.5 billion in additional commitments.