Iron MountainInc. unit Iron Mountain Australia Group Pty Ltd closed on a A$250.0million syndicated term loan B facility.
The loan matures in September 2022 and bears interest at bankbill swap bid rate plus 4.25%.
The proceeds will be used to repay outstanding amounts underIron Mountain's existing revolving credit facility and for general corporatepurposes.
The company amended an agreement in June to allow its Australianunit to enter into a credit agreement that contains a collateral allocationmechanism. The company said at the time that lenders under that agreement willmake a term loan to the unit that will be guaranteed by Iron Mountain on anunsecured basis.
Barclays Bank PLC, Credit Agricole Securities (USA) Inc.,and HSBC Bank Australia Ltd. are the joint lead arrangers for the term loan.
As of Sept. 27, US$1was equivalent to A$1.31.