Company: PSA-PH
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0001628280-25-047163
Chunk: 43

Company: Public Storage
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 2
Chunk 43
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 exceed our capital resources, we believe we have a variety of possibilities to raise additional capital including issuing common or preferred securities, debt, and limited partnership interests, or entering into joint venture arrangements to acquire or develop facilities.

Cash Requirements

The following summarizes our expected material cash requirements, which comprise (i) contractually obligated expenditures, including payments of principal and interest, (ii) other essential expenditures, including property operating expenses, maintenance capital expenditures and dividends paid in accordance with REIT distribution requirements, and (iii) opportunistic expenditures, including acquisitions and developments and repurchases of our securities. We expect to satisfy these cash requirements through operating cash flow and opportunistic debt and equity financings.

Required Debt Repayments: As of September 30, 2025, the principal outstanding on our debt totaled approximately $10.1 billion, consisting of $8.2 billion of U.S. Dollar denominated unsecured notes payable, $1.9 billion of Euro-denominated unsecured notes payable, and $1.6 million of mortgage notes payable. Approximate principal maturities and interest payments (including $61.8 million in estimated interest on our $0.7 billion variable rate unsecured notes based on rates in effect at September 30, 2025) are as follows (amounts in thousands):

PrincipalInterestTotalRemainder of 2025$284,082$53,894$337,97620261,150,138296,4411,446,57920271,200,146266,8521,466,99820281,200,129227,7171,427,84620291,000,088189,7041,189,792Thereafter 5,260,5521,553,7376,814,289$10,095,135$2,588,345$12,683,480

We had $400 million of U.S. Dollar denominated unsecured notes that we repaid upon maturity on July 25, 2025. We have €242 million of our Euro denominated unsecured notes that mature on November 3, 2025, and $500 million of our U.S. Dollar denominated unsecured notes that mature on February 15, 2026. We plan to utilize the proceeds from our October 2025 Euro denominated unsecured notes issuance to refinance the November 2025 Euro denominated unsecured notes and plan to refinance the U.S Dollar den