Iron Mountain Incorporated, the storage and information management services company, has announced that it has priced an upsized offering by way of a private placement of US$1,100.0 million aggregate principal amount of its 4.500% Senior Notes due 2031. This represents an increase of US$250.0 million in the combined aggregate principal amount of the Notes, from the previously announced amount of US$850.0 million. The Notes will be fully and unconditionally guaranteed by the Company's subsidiaries that guarantee each series of its existing notes. The Company intends to use the net proceeds from the offering of the Notes to redeem all C$250.0 million aggregate principal amount of the 53/8% Senior Notes due 2023 issued by its subsidiary, Iron Mountain Canada Operations ULC, all €300.0 million aggregate principal amount of its 3% Senior Notes due 2025, and all US$250.0 million aggregate principal amount of the 53/8% Senior Notes due 2026 issued by its subsidiary, Iron Mountain US Holdings, Inc., and to repay a portion of the outstanding borrowings under the Company’s revolving credit facility.
Latham & Watkins LLP represents the initial purchasers in the offering with a corporate team led by Boston partner Wesley Holmes and New York partner Benjamin Stern, with New York associates Taylor Stevens, Tina Jeon, and Jonathan Hernandez. Advice was also provided on tax matters by Los Angeles partner Ana O’Brien, with Orange County associate Janet Hsu.