BOSTON, Dec 13, 2010 (BUSINESS WIRE) --
Iron
Mountain Incorporated (NYSE:IRM), the information management
company, announced today that it has called for redemption the remaining
$231 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 January
18, 2011 and the Notes will be redeemed at par plus accrued and unpaid
interest to January 18, 2011. The Company will use cash on hand and
borrowings under its revolving credit facility to fund this redemption.
Based on the interest rates in effect on December 8, 2010, the expected
annual interest savings from this transaction would be approximately $14
million to $17 million depending on the mix of cash and borrowings used
to fund the redemption.
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