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Iron Mountain closes $825M debt offering

Iron Mountain Inc. closed its $825.0 million private placement of 5.25% senior notes due March 15, 2028, with the notes sold at 100.00% of par.

Interest on the notes will be payable semiannually every March 15 and Sept. 15, starting March 15, 2018.

The offering generated net proceeds of roughly $813.1 million, which will be used, along with cash on hand and amounts raised from the company's recent common stock offering, to fund its purchase of IO Data Centers LLC's operations in the U.S.

If the purchase is not completed, Iron Mountain will use the proceeds for general business purposes.