Iron Mountain tenders for 8¼% notes due 2011

By Jennifer Chiou

New York, July 11 - Iron Mountain Inc. said it began a cash tender offer and consent solicitation for any and all of its $150 million of 8¼% senior subordinated notes due 2011.

The Boston-based information storage services firm is soliciting consents to amend the note indenture, eliminating restrictive covenants and modifying certain provisions.

The consent deadline is 5 p.m. ET on July 21. The offer ends at midnight ET on Aug. 7.

The company said it will pay $1,007.50 per $1,000 principal amount of notes, which includes a consent payment of $7.50 per for those who tender prior to the early deadline.

Iron Mountain added it intends to finance the tender offer and consent solicitation with a portion of the net proceeds from its proposed offering of $200 million of senior subordinated notes due 2018.

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

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