Iron Mountain Canada to sell C$250 million five-year notes on Monday

By Paul A. Harris

Portland, Ore., Sept. 12 – Iron Mountain Canada Operations ULC plans to price C$250 million of five-year senior notes on Monday trailing a late-morning conference call with investors, according to a syndicate source.

RBC Capital Markets, Scotia Capital and TD Securities are the joint bookrunners.

The notes become callable after three years at par plus 75% of the coupon and feature a 101% poison put.

The assumed corporate credit ratings are Ba3 from Moody's Investors Service and BB- from S&P Global Ratings.

The information storage company plans to use the proceeds to repay bank debt.

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