Iron Mountain Inc. completed the refinancing and amendment of its existing senior secured $1.75 billion revolving credit and $250 million term loan A facilities.
The refinancing extends the maturity date for the revolver and term loan A facility to June 2023 from August 2022 and reduces the interest rate margins applicable to existing and future borrowings under the facilities by 25 basis points.
Depending upon Iron Mountain's leverage ratio and choice of loan types and currency options, interest rate margins for the facilities will range between 25 basis points and 175 basis points after the refinancing.
The storage and information management services company said borrowings under the revolver continue to be available for general corporate purposes.
JPMorgan Chase Bank NA and Merrill Lynch Pierce Fenner & Smith Inc. are joint lead arrangers and active book runners.
