debt
confidence high
sentiment neutral
materiality 0.55
Iron Mountain issues $750M 5.00% senior notes due 2032 to fund ITRenew acquisition
IRON MOUNTAIN INC
- $750M aggregate principal at 5.000% interest, due July 15, 2032, sold at par.
- Net proceeds ~$737.8M after discounts; used for cash consideration and debt repayment in ITRenew acquisition.
- Notes are unsecured senior obligations, jointly guaranteed by Iron Mountain and its U.S. subsidiaries.
- Issuer may redeem up to 40% of notes before Jan 2025 with equity offering net proceeds; make-whole redemption before July 2027.
- Indenture includes customary events of default and restrictive covenants on debt, dividends, and asset sales.