Iron Mountain to price $750 million two-part notes offering Tuesday

By Paul A. Harris

Portland, Ore., May 24 – Iron Mountain Inc., in conjunction with Iron Mountain US Holdings, Inc., plan to price $750 million of senior notes in two tranches (existing ratings Ba3/BB-) on Tuesday trailing a mid-morning conference call with investors, according to a syndicate source.

The deal includes $500 million of five-year notes, which come with two years of call protection, and $250 million of 10-year notes, which come with five years of call protection.

Left physical bookrunner Goldman Sachs & Co. will bill and deliver for the Rule 144A and Regulation S offering. BofA Merrill Lynch and J.P. Morgan Securities LLC are also joint physical bookrunners.

Barclays, Wells Fargo Securities LLC, Credit Agricole CIB, HSBC, Morgan Stanley & Co. LLC and Citizens Securities Inc. are joint bookrunners.

PNC Capital Markets, MUFG and SunTrust Robinson Humphrey Inc. are the co-managers.

The Boston-based information management services provider plans to use the proceeds, together with cash on hand and borrowings under its revolver, to pay off the bridge credit agreement related to the acquisition of Recall Holdings Ltd.

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