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Iron Mountain issues contingent call for £400 million 6 1/8% notes
By Susanna Moon
Chicago, Nov. 1 – Iron Mountain Inc. said wholly owned subsidiary Iron Mountain Europe plc issued a conditional redemption notice for its £400 million principal amount of 6 1/8% senior notes due 2022.
The notes will be redeemed on Nov. 15 at a redemption price of 104.594% of par plus accrued interest to but excluding the redemption date.
The redemption is conditioned upon closing of wholly owned subsidiary Iron Mountain (UK) plc’s 3 7/8% senior notes due 2025, which priced Oct. 31, according to the company notice.
As reported, Iron Mountain priced £400 million of the 3 7/8% notes.
The company said it also plans to use revolver drawdowns to fund the redemption.
Iron Mountain is a Boston-based provider of storage and information management services.
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