Iron Mountain in market with £125 million 10-year notes via Bear Stearns

By Paul A. Harris

St. Louis, Jan. 7 - Iron Mountain Inc. plans to sell £125 million of senior subordinated notes due 2014 (existing ratings B2/B), a market source said.

The deal will be on the road only in Europe through the present week and into the week of Jan. 12, when it is expected to price.

Bear Stearns & Co. will run the books on the Rule 144A offering. Lehman Brothers and JP Morgan are co-managers.

Iron Mountain will use proceeds to fund the acquisition of Mentmore plc's 49.9% equity interest in Iron Mountain Europe Ltd. for £82.5 million and for general corporate purposes, including debt repayment and possible future acquisitions.

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

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