Iron Mountain to redeem 8 1/8% notes with note offering proceeds

New York, Dec. 3 - Iron Mountain Inc. (B2/B) said it plans to repurchase or redeem the 8 1/8% senior notes due 2008 issued by its wholly owned Iron Mountain Canada Corp. subsidiary with part of the proceeds of a planned offering of $160 million of 6 5/8% senior subordinated notes due 2016 to be sold as an add on to its existing $150 million of 6 5/8% notes.

Iron Mountain said that some of the proceeds will also be used for general corporate purposes, including repayment of part of its real estate term loans, the possible repayment of outstanding revolving credit facility debt, the possible repayment of other debt and possible future acquisitions and investments.

As previously announced, Iron Mountain, a Boston-based provider of document storage and information management services, redeemed $50 million of the 8 1/8% notes on July 24, out of the $135 million then outstanding, using part of the proceeds from the $150 million of new 6 5/8% notes which it sold on June 17.

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