WASHINGTON (dpa-AFX) - Iron Mountain Inc. (IRM) announced a proposed public offering of $950 million in aggregate principal amount of its senior subordinated Notes due 2024.
The company said it plans to use the net proceeds from the offering for the redemption of all of its outstanding 6-5/8% Senior Subordinated Notes due 2016 and 8-3/4% Senior Subordinated Notes due 2018, to repay existing indebtedness under its revolving credit facility and for general corporate purposes, including funding a portion of the costs it expects to incur in connection with its proposed conversion to a real estate investment trust.
The exact terms and timing of the offering will depend upon market conditions and other factors, Iron Mountain noted.
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