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Published on 5/18/2017 in the Prospect News High Yield Daily.

Iron Mountain sets final talk for €300 million notes due January 2025 at 3%-3¼%; pricing Thursday

By Paul A. Harris

Portland, Ore., May 18 – Iron Mountain Inc. set official talk on its €300 million offering of senior notes due January 2025 (Ba3/BB-) at 3% to 3¼%, according to market sources.

As the market anticipated, official talk comes inside of initial price talk in the 3½% area.

Books were scheduled to close early Thursday, New York time, with pricing and allocations to follow.

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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