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Iron Mountain subsidiary to offer £400 million of eight-year notes
By Angela McDaniels
Tacoma, Wash., Oct. 30 – Iron Mountain Inc. plans to offer £400 million of senior notes due 2025, according to a company news release.
The exact terms of the notes and the timing of the Rule 144A and Regulation S offering will depend on market conditions and other factors.
The notes will be issued by subsidiary Iron Mountain (UK) plc and guaranteed by the parent company and its subsidiaries that guarantee each series of its existing notes.
The proceeds, together with borrowings under the company's revolving credit facility, will be used to redeem Iron Mountain Europe plc's £400 million of 6 1/8% senior notes due 2022 in full. The redemption will be conditioned on the completion of the new offering.
Boston-based Iron Mountain provides storage and information management services.
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