Iron Mountain to price €175 million add-on to 6¾% notes due 2018 on Thursday

By Paul A. Harris

St. Louis, Jan. 9 - Iron Mountain Inc. plans to price a €175 million add-on to its 6¾% senior subordinated notes (B) due Oct. 15, 2018 on Thursday following a brief roadshow in Europe, according to a market source.

Bear Stearns & Co. is the bookrunner for the off-the-shelf note offering. Barclays Capital, JP Morgan, HSBC, The Royal Bank of Scotland, BNP Paribas, Calyon Securities, HBOS and Lloyds are co-managers.

The notes become callable on Oct. 15, 2011 and contain an equity clawback that remains in effect until Oct. 15, 2009.

Proceeds will be used to repay bank debt and other debt and for general corporate purposes.

Iron Mountain is a Boston-based information storage and protection services provider.

The original €30 million issue of 6¾% notes due 2018 was sold in a private placement on Oct. 17, 2006.

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