debt
confidence high
sentiment positive
materiality 0.65
Iron Mountain extends revolver and term loan maturities to 2030, increases revolver by $500M
IRON MOUNTAIN INC
- Amended credit agreement extends 2022 Term A Loan and Revolving Facility maturity to March 18, 2030 from ~2027.
- Removed credit spread adjustment on both facilities, lowering interest rate spreads effective immediately.
- Increased 2022 Revolving Commitments from $2.25B to $2.75B, adding $500M of liquidity.
- Non-consenting lenders replaced; new and consenting lenders hold $218.75M term loans and $1.197B revolver outstanding.
- Available revolver capacity post-amendment: ~$1.55B after $1.197B drawn and $7.9M letters of credit.