Iron Mountain obtains consents for 8¼% notes

By Jennifer Chiou

New York, July 24 - Iron Mountain Inc. said it received consents from holders of a majority of its $150 million of 8¼% senior subordinated notes due 2011.

The consent deadline was 5 p.m. ET on July 21.

The Boston-based information protection and storage services provider obtained enough consents to modify the note indenture to eliminate or modify certain covenants and related provisions.

Those who tendered by the consent deadline will receive $1,007.50 per $1,000 principal amount of notes, which includes a consent payment of $7.50.

Iron Mountain said it will execute a supplemental indenture.

Meanwhile the underlying tender continues until midnight ET on Aug. 7.

As announced on July 11, the company said it will fund the offer with a portion of the proceeds from its offering of $200 million of 8¾% senior subordinated notes due 2018.

Bear, Stearns & Co. Inc. is the dealer manager (877 696-2327). D.F. King & Co., Inc. is the information agent (800 488-8075).

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