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by Stephen Carter
Sep 04, 2025 1:09 PM ET
Iron Mountain Inc (IRM) EUR1.1bn (up from EUR750m) 144A/Reg S sr notes due 01/15/34 (8.25y). NC3 (MWC B+50bp) (50%,25%,par). Equity claw: 3y 40%. (Expect Ba3)/BB- (stable/stable). Via UBS (B&D)/Barc/BNP jt active books/JPM/MS/BofA/Citizens/CA/GS/M&T/Mizuho/MUFG/PNC/SMBC/TSI/WFS jt books, CapOne, Huntington, Synovus, TD as co-mangers. No reg rights. List Dublin. NY law. CoC at 101. Denoms: 100kx1k. IPT: 5% area. EUR350m upsize for GCP, including paying down its revolver.
Price talk: 4.75% area.
Roadshow (virtual) 09/04 (investor call at 11am UKT), also held a series of EMEA fixed income investor meetings 09/02-03. Books close at 11am UKT 09/05.. Pricing 09/05 UK afternoon. UOP: redeem its GBP400m 3.875% sr notes due 11/15/25 (callable at 100), and GCP, including paying down the $1.087bn drawn on its revolver (EUR350m upsize for GCP, including paying down its revolver). Biz: record and data storage and information management services. HQ: Portsmouth, NH.
Netroadshow link: https://www.netroadshow.com/nrs/home/#!/?show=84920026. Entry code: IRM2025.