Iron Mountain Upsizes Debt Offering to $1.5 Billion, Prices 6.25% Senior Notes
IRM sits 62% above its 52-week low of $77.77.
Summary
Iron Mountain has upsized and priced its senior notes offering, raising $1.5 billion. The notes are due in 2035 and carry an interest rate of 6.25%. This successful capital raise is $500 million larger than the $1 billion offering proposed earlier today. The additional financing provides the company with significant capital, which is a material event for its operations and investment plans.
At the time of this announcement, IRM was trading at $126.28 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $37.6B. The 52-week trading range was $77.77 to $134.09. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: Reuters.