NSR shared updates on capital management, operations, and FY23 earnings

National Storage REIT (ASX: NSR) has provided an update on various capital management initiatives, operations, and underlying earnings guidance for FY23. To bolster its financial position, NSR secured a syndicated term loan amounting to AU$400 million, spread across five and seven-year tenors. This move has extended the weighted average debt tenor to 3.6 years, compared to 3.0 years as of December 2022.

Additionally, NSR has obtained credit approvals for an additional AU$200 million in new debt facilities, further strengthening its financial capacity. NSR has executed other interest rate swaps following the 1HFY23 to enhance its hedge profile. Furthermore, NSR has reaffirmed its FY23 underlying earnings guidance at 11.5 cents per share, indicating an 8.5% growth compared to FY22. NSR is currently actively reviewing a wide range of new and existing opportunities within its acquisition pipeline.

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