Iron Mountain selling $825 million 10.25-year notes on Tuesday

By Paul A. Harris

Portland, Ore., Dec. 12 – Iron Mountain Inc. is expected to price an $825 million offering of 10.25-year senior notes on Tuesday following a late-morning conference call with investors, market sources say.

Lead left bookrunner Barclays will bill and deliver. Credit Agricole CIB, HSBC Securities and J.P. Morgan Securities LLC are the lead bookrunners. BofA Merrill Lynch, Goldman Sachs & Co., Morgan Stanley & Co. LLC, MUFG and Wells Fargo Securities LLC are the passive bookrunners.

Citizens Bank, PNC Capital Markets, RBC Capital Markets LLC, Scotia Capital, SunTrust Robinson Humphrey Inc. and TD Securities are the co-managers.

The Rule 144A and Regulation S notes come with five years of call protection and feature a 40% equity clawback at par plus the coupon and a 101% poison put.

The Boston-based provider of storage and information management services plans to use the proceeds to finance its acquisition of IO Data Centers, LLC, a Phoenix-based provider of colocation and cloud services to businesses and governments.

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