BOSTON, Aug 05, 2010 (BUSINESS WIRE) --
Iron
Mountain Incorporated (NYSE:IRM), a leader in information management
services, announced today that it has called for a partial redemption of
$200 million of the $431 million aggregate principal amount outstanding
of its 7-3/4% Senior Subordinated Notes due 2015 (the Notes) in
accordance with the Indenture governing the Notes. The redemption date
for the Notes will be September 7, 2010 at a redemption price of
$1,012.92 for each $1,000 principal amount of Notes redeemed, plus
accrued and unpaid interest to September 7, 2010. The Company will use
cash on hand to fund this redemption. Upon completion of this partial
redemption, $231 million in aggregate principal amount of the Notes will
remain outstanding under the Indenture governing the Notes. Pro forma
for this transaction, the Company had $890 million of total liquidity
including $140 million in cash and $750 million of additional borrowing
capacity under its revolving line of credit at June 30, 2010. This
announcement does not constitute a notice of redemption of the Notes.
The formal notice of redemption is being provided separately in
accordance with the terms of the Indenture governing the Notes.
About Iron Mountain
Iron Mountain Incorporated (NYSE: IRM) provides information management
services that help organizations lower the costs, risks and
inefficiencies of managing their physical and digital data. The
Company's solutions enable customers to protect and better use their
information--regardless of its format, location or lifecycle stage--so
they can optimize their business and ensure proper recovery, compliance
and discovery. Founded in 1951, Iron Mountain manages billions of
information assets, including business records, electronic files,
medical data, emails and more for organizations around the world. Visit www.ironmountain.com
for more information.
SOURCE: Iron Mountain Incorporated
Investor Relations contact:
Iron Mountain Incorporated
Stephen P. Golden, 617-535-4766
Vice President, Investor Relations
sgolden@ironmountain.com