Iron Mountain guides €300 million notes due January 2025 in 3½% area; pricing expected Thursday

By Paul A. Harris

Portland, Ore., May 17 – Iron Mountain Inc. is circulating initial price talk on its €300 million offering of senior notes due January 2025 (Ba3/BB-) in the 3½% area, according to market sources.

There is an expectation in the market that it could come tighter, according to a trader.

The deal is expected to price Thursday.

Joint global coordinator Barclays will bill and deliver for the Rule 144A and Regulation S for life offering. Credit Agricole CIB is also a joint global coordinator.

BofA Merrill Lynch, HSBC and JPMorgan are joint bookrunners.

Goldman Sachs, Morgan Stanley and Wells Fargo are co-managers.

The long seven-year notes come with three years of call protection.

The Boston-based information management services provider plans to use the proceeds to pay down its revolving credit facility and for general corporate purposes.

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