UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
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PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): November 4, 2009
PUBLIC STORAGE
(Exact Name of Registrant as Specified in its Charter)
Maryland 001-33519 95-3551121
State or Other Jurisdiction of (Commission File Number) (I.R.S. Employer
Incorporation) Identification No.)
701 Western Avenue, Glendale, California 91201-2349
(Address of Principal Executive Offices) (Zip Code)
(818) 244-8080
(Registrant's telephone number, including area code)
Check the appropriate box below if the Form 8-K is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
|_| Written communication pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
|_| Pre-commencements communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
As previously announced, on November 4, 2009, Public Storage (the
"Company"), its wholly-owned subsidiary PS LPT Properties Investors ("PS LPT")
and Shurgard Self Storage SCA, a Belgian company and affiliate of the Company
("Shurgard Europe"), entered into an Amendment Agreement (the "Agreement")
effective as of October 31, 2009. Pursuant to the Agreement, the parties amended
the terms of an outstanding loan dated March 31, 2008 from Public Storage and PS
LPT to Shurgard Self Storage SCA in the amount of (euro)373,700,000. The
amendments extended the maturity date to March 31, 2013 for the existing loan
and increased the existing 7.5% rate of interest to 9.0% per annum (effective
November 1, 2009).
The total amount loaned by Public Storage and its affiliates to Shurgard
Europe and its affiliates, (including additional loans to Shurgard Europe and
its affiliates with the same interest rate, term, and covenants as the
Agreement, and which were amended concurrently with the Agreement), was
(euro)391.9 million ($571.8 million at September 30, 2009).
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(c) EXHIBITS
Exhibit 10.1--Amendment Agreement dated November 4, 2009 between Public Storage,
PS LPT Properties Investors, and Shurgard Self Storage SCA
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: November 10, 2009
PUBLIC STORAGE
By: /s/John Reyes
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John Reyes
Senior Vice President &
Chief Financial Officer