Iron Mountain to price $150 million 13-year notes Tuesday

By Paul A. Harris

St. Louis, June 16 - Iron Mountain Inc. expects to price $150 million of senior subordinated notes due 2016 (B2/B) in a quick-to-market public transaction on Tuesday, according to a market source.

Bear Stearns & Co. is the bookrunner. The joint lead managers are JP Morgan and Lehman Brothers.

The notes will be non-callable for five years.

Proceeds will be used to redeem all or part of Iron Mountain Canada Corp.'s 8 1/8% senior notes due 2008 and for general corporate purposes including debt repayment, future acquisitions and investments.

The Boston-headquartered company provides outsourced records and information management services.

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