Iron Mountain calls its $231 million 7¾% senior subordinated notes

By Melissa Kory

Cleveland, Dec. 13 - Iron Mountain Inc. announced that it will redeem its $231 million of 7¾% senior subordinated notes due 2015.

The notes will be redeemed on Jan. 18 at par, plus accrued interest to the redemption date.

The company will use cash on hand and borrowings under its revolving credit facility to fund this redemption.

The expected annual interest savings from this transaction is $14 million to $17 million, depending on the mix of cash and borrowings used to fund the redemption.

Based in Boston, Iron Mountain provides information management services.

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