Science & Technology
Science and Technology
Science and Technology 
Tue, December 14, 2010
Mon, December 13, 2010
Iron Mountain Incorporated Calls Remaining $231 Million of its 7-3/4% Notes for Redemption
BOSTON--([ BUSINESS WIRE ])--[ Iron Mountain Incorporated ] (NYSE:IRM), the information management company, announced today that it has called for redemption the remaining $231 million aggregate principal amount outstanding of its 7-3/4% Senior Subordinated Notes due 2015 (the Notes) in accordance with the Indenture governing the Notes. The redemption date for the Notes will be January 18, 2011 and the Notes will be redeemed at par plus accrued and unpaid interest to January 18, 2011. The Company will use cash on hand and borrowings under its revolving credit facility to fund this redemption. Based on the interest rates in effect on December 8, 2010, the expected annual interest savings from this transaction would be approximately $14 million to $17 million depending on the mix of cash and borrowings used to fund the redemption.
This announcement does not constitute a notice of redemption of the Notes. The formal notice of redemption is being provided separately in accordance with the terms of the Indenture governing the Notes.
About Iron Mountain
Iron Mountain Incorporated (NYSE: IRM) provides information management services that help organizations lower the costs, risks and inefficiencies of managing their physical and digital data. The Companya™s solutions enable customers to protect and better use their informationa"regardless of its format, location or lifecycle stagea"so they can optimize their business and ensure proper recovery, compliance and discovery. Founded in 1951, Iron Mountain manages billions of information assets, including business records, electronic files, medical data, emails and more for organizations around the world. Visit [ www.ironmountain.com ] for more information.