BOSTON--(BUSINESS WIRE)--Aug. 8, 2013--
Iron
Mountain Incorporated (NYSE: IRM), the storage and information
management company, today announced a proposed public offering of $450
million in aggregate principal amount of its USD Senior Notes due 2023
(the “U.S. Notes”) and C$300 million in aggregate principal amount of
its subsidiary’s (Iron Mountain Canada Operations ULC, or the “Canadian
Issuer”) CAD Senior Notes due 2023 (the “Canadian Notes”).
The company and the Canadian Issuer intend to use the net proceeds from
the offering for the redemption of all of the company’s 8% USD Senior
Subordinated Notes due 2018 and 8% USD Senior Subordinated Notes due
2020, for the redemption of the Canadian Issuer’s outstanding 7-1/2% CAD
Senior Subordinated Notes due 2017, and to fund the purchase of up to
$137.5 million in aggregate principal amount of the company’s 8-3/8% USD
Senior Subordinated Notes due 2021 pursuant to a tender offer. The
company intends to use the remaining net proceeds to repay existing
indebtedness under its revolving credit facility and for general
corporate purposes. The exact terms and timing of the offering will
depend upon market conditions and other factors.
Wells Fargo Securities, BofA Merrill Lynch, J.P. Morgan, Credit Agricole
CIB, HSBC, Morgan Stanley and RBS Securities Inc. are the joint
bookrunners for the U.S. Notes. Scotiabank, BofA Merrill Lynch, J.P.
Morgan, Barclay’s and TD Securities are the joint bookrunners for the
Canadian Notes.
Iron Mountain is making the offering under an effective shelf
registration statement. This offering will be made solely by means of a
preliminary prospectus supplement and related base prospectus, copies of
which may be obtained on the SEC Web site at www.sec.gov.
Alternatively, the underwriters will arrange to send you the preliminary
prospectus supplement and related base prospectus if you request them by
contacting Wells Fargo Securities, LLC at 550 South, Tryon Street, 7th
Floor MAC D1086-070, Charlotte, NC 28202, Attn: Client Support, via
telephone, at (800) 326-5897, or via email at cmclientsupport@wellsfargo.com.
This announcement shall not constitute an offer to sell or the
solicitation of an offer to buy securities, nor shall there be any sale
of these securities in any state or other jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction. This announcement does not constitute a notice of
redemption of the Senior Subordinated Notes referred to above or a
solicitation of tenders of the 8-3/8% USD Senior Subordinated Notes due
2021.
Amendment to Senior Secured Revolving Credit Facility
Also today, the company announced it has amended its senior secured
revolving credit facility, upsizing it from $1.225 billion to $1.5
billion with a syndicate of 21 banks. Additionally, an accordion feature
allows the company to request an increase in the aggregate amount
available to be borrowed under the credit facility by $500 million, for
a total of $2.0 billion of availability, subject to certain conditions
and additional lender commitments. Funds may be drawn in U.S. dollars,
Canadian dollars, British pounds sterling, Euros and Brazilian Reals,
among other currencies. The credit facility is scheduled to mature on
June 27, 2016. Pricing under the credit facility did not change as a
result of this amendment and is based upon the company’s choice of
interest rate and currency options, plus an applicable margin, which
varies based on certain financial ratios.
Merrill Lynch, Pierce, Fenner & Smith Incorporated and J.P. Morgan
Securities LLC are lead arrangers for the credit facility.
About Iron Mountain
Iron Mountain Incorporated (NYSE: IRM) is a leading provider of storage
and information management solutions. The company’s real estate network
of over 64 million square feet across more than 1,000 facilities in 35
countries allows it to serve customers around the world. And its
solutions for records management, data backup and recovery, document
management and secure shredding help organizations to lower storage
costs, comply with regulations, recover from disaster, and better use
their information for business advantage. Founded in 1951, Iron Mountain
stores and protects billions of information assets, including business
documents, backup tapes, electronic files and medical data. Visit www.ironmountain.com
for more information.
Source: Iron Mountain Incorporated
Investor Relations contacts:
Iron Mountain Incorporated
Melissa
Marsden, 617-535-8595
Senior Vice President, Investor Relations
melissa.marsden@ironmountain.com
or
Stephen
P. Golden, 617-535-4766
Vice President, Investor Relations
sgolden@ironmountain.com