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Iron Mountain plans to call all £400 million of 6 1/8% notes due 2022
By Angela McDaniels
Tacoma, Wash., Oct. 30 – Iron Mountain Inc. plans to redeem Iron Mountain Europe plc's £400 million of 6 1/8% senior notes due 2022 in full, according to a company news release.
The company will fund the redemption with the proceeds of £400 million of new senior notes due 2025 and borrowings under its revolving credit facility. The redemption will be conditioned on the completion of the new offering.
The exact terms of the new notes and the timing of the Rule 144A and Regulation S offering will depend on market conditions and other factors.
The new 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.
Boston-based Iron Mountain provides storage and information management services.
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