Iron Mountain Closes on Amendment and Refinancing of Senior Secured Credit Facilities

BOSTON, June 4, 2018 /PRNewswire/ -- Iron Mountain Incorporated (NYSE: IRM), the storage and information management services company, announced that it has closed on the amendment and refinancing of its existing senior secured $1,750 million revolving credit and $250 million term loan A facilities under its credit agreement with certain lenders, JPMorgan Chase Bank, N.A., as administrative agent, and JPMorgan Chase Bank, N.A., Toronto Branch, as Canadian administrative agent.

The refinancing extends the maturity date for the revolving credit and term loan A facilities to June 2023 from August 2022.  The refinancing also reduces the interest rate margins applicable to existing and future borrowings under the facilities by 25 basis points.  After the refinancing, interest rate margins for the facilities will range between 25 to 175 basis points, depending upon the company's leverage ratio and its choice of loan types and currency options.

Borrowings under the revolving credit facility continue to be available for general corporate purposes.  Funds may be drawn in U.S. dollars, Canadian dollars, British pounds sterling, and Euros, among other currencies.  The maturity, amortization and interest rate terms of the company's existing $700.0 million term loan B facility under the credit agreement were unaffected by the amendment and refinancing.

JPMorgan Chase Bank, N.A. and Merrill Lynch, Pierce, Fenner & Smith Incorporated are joint lead arrangers and active bookrunners for this transaction.

About Iron Mountain
Iron Mountain Incorporated (NYSE: IRM), founded in 1951, is the global leader for storage and information management services. Trusted by more than 225,000 organizations around the world, and with a real estate network of more than 85 million square feet across more than 1,400 facilities in over 50 countries, Iron Mountain stores and protects billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts. Providing solutions that include information management, digital transformation, secure storage, secure destruction, as well as data centers, cloud services and art storage and logistics, Iron Mountain helps customers lower cost and risk, comply with regulations, recover from disaster, and enable a more digital way of working. Visit www.ironmountain.com for more information.

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SOURCE Iron Mountain Incorporated