debt
confidence high
sentiment neutral
materiality 0.15
Iron Mountain amends credit agreement to treat ITRenew as wholly-owned subsidiary for acquisition
IRON MOUNTAIN INC
- Technical amendment allows ITRenew to be treated as wholly-owned despite Iron Mountain acquiring ~80% equity.
- No changes to maturity, amortization, events of default, or interest rate from the amendment.
- As of Sept 30, 2021, Iron Mountain had $310M revolver, $206M Term Loan A, and $674M Term Loan B outstanding.
- Amendment obtained on Dec 12, 2021, in connection with the ITRenew acquisition agreement dated Dec 10, 2021.
- Credit agreement terms unchanged except for the ITRenew treatment; standard procedural amendment.