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Iron Mountain nets $986M in notes private placement

Iron Mountain Inc. closed a $1.0 billion private placement of unsecured senior notes due Sept. 15, 2029, raising approximately $985.7 million in net proceeds.

The notes will bear an annual interest rate of 4.875%, payable semiannually every March 15 and Sept. 15, starting March 15, 2020.

The company said it used net proceeds to repay outstanding borrowings under its revolving credit facility.

Wells Fargo Bank NA was the trustee for the notes.