Iron Mountain to price $750 million 10-year notes on Wednesday; whisper is 5%-5¼%

By Paul A. Harris

Portland, Ore., Sept. 6 – Iron Mountain Inc. plans to price $750 million of 10-year senior notes (Ba3/BB-) in a quick-to-market Wednesday trade, according to a buyside source.

Initial guidance is 5% to 5¼%.

J.P. Morgan Securities LLC is leading the Rule 144A and Regulation S offering.

The notes come with five years of call protection.

The Boston-based data storage and information management services company plans to use the proceeds, along with borrowings under its revolving credit facility, to fund the redemption of all of its outstanding $1 billion 6% senior notes due 2020.

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