By Paul A. Harris
Portland, Ore., May 18 – Iron Mountain Inc. priced a €300 million issue of senior notes due Jan. 15, 2025 (Ba3/BB-) at par to yield 3% on Thursday, according to a market source.
The yield came at the tight end of the 3% to 3¼% yield talk and inside of initial price talk in the 3½% area.
Joint global coordinator Barclays will bill and deliver. Credit Agricole CIB was also a joint global coordinator.
BofA Merrill Lynch, HSBC and JPMorgan were joint bookrunners.
The Boston-based information management services provider plans to use the proceeds to pay down its revolving credit facility and for general corporate purposes.
| Issuer: | Iron Mountain Inc.
|
| Amount: | €300 million
|
| Maturity: | Jan. 15, 2025 (long seven-year)
|
| Securities: | Senior notes
|
| Joint global coordinators: | Barclays (bill and deliver), Credit Agricole CIB
|
| Joint bookrunners: | BofA Merrill Lynch, HSBC, JPMorgan
|
| Co-managers: | Goldman Sachs, Morgan Stanley, Wells Fargo
|
| Coupon: | 3%
|
| Price: | Par
|
| Yield: | 3%
|
| Call protection: | Three years
|
| Trade date: | May 18
|
| Ratings: | Moody's: Ba3
|
| S&P: BB-
|
| Distribution: | Rule 144A and Regulation S for life
|
| Price talk: | 3% to 3¼%
|
| Marketing: | Roadshow
|
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