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by Stephen Carter
Jun 15, 2026 4:58 PM ET
Iron Mountain Inc (IRM) $1.5bn (up from $1bn) 144A/Reg S sr notes due 01/15/35 (8.5y). NC3 (07/15/29) (MWC T+50bp), then at 103.125 07/15/29, 101.5625 07/15/30, 100 07/15/31. Equity claw: 3y 40% at 106.25. Ba3/BB- (stable/stable). Via WFS/Barc/JPM/Miz/PNC jt lead books/BofA/BNP/Citizens/CA/GS/MS/ MUFG/M&T/SMBC/TSI/UBS jt books, CapOne, Huntington, Synovus, TD as co-mangers. No reg rights. CoC at 101. Pays Jan 15 and July 15, starting 01/15/27. Denoms: 2kx1k. Investment grade covenant package. Settles 06/26 (T+8). 144A CUSIP: 46284VAR2; 144A ISIN: US46284VAR24. IPT: mid 6s. Price talk: 6.25%-6.375%. $500m upsize to repay the full $1.285bn drawn on it revolver and GCP. Launched: $1.5bn at 6.25%.
Priced: 6.25% at 100. +184bp vs 4.25% 11/15/34.
Did investor call at 11am 06/15. Books closed at 2pm 06/15. Reconfirms were due by 2:45pm 06/15. UOP: pay down the full amount (up from $988m) of the $1.285bn drawn on its revolver, GCP ($500m upsize to repay the full $1.285bn drawn on it revolver, and GCP). Biz: record and data storage and information management services. HQ: Portsmouth, NH.
Netroadshow direct link: https://www.netroadshow.com/events/login/1PeTHmohEhqgo0xiYCQIZIFTvOU7his3MB58C.