EXHIBIT 99.1
FOR IMMEDIATE RELEASE:
Contact: | Stephen P. Golden Director of Investor Relations (617) 535-4799 |
Iron Mountain Incorporated Prices Debt Offering
Boston, MA—June 17, 2003—Iron Mountain Incorporated (NYSE: IRM), the global leader in records and information management services, announced today that it has priced an underwritten public offering of $150 million in aggregate principal amount of 65/8% Senior Subordinated Notes due 2016. The notes will be sold at 100% of par. The net proceeds to the Company are expected to be $147.5 million, after paying the underwriters' discounts and commissions and estimated expenses, and will be used to redeem all or a portion of the outstanding 81/8% Senior Notes due 2008 of its subsidiary, Iron Mountain Canada Corporation, which the Company has guaranteed on a senior subordinated basis, and for general corporate purposes, including the possible repayment of other indebtedness and possible future acquisitions and investments. The closing of the offering is expected to occur on June 20, 2003 and is subject to customary closing conditions.
Bear, Stearns & Co. Inc., is the sole book-running manager for the offering. J.P. Morgan Securities Inc. and Lehman Brothers Inc. are co-managers for the offering.
Iron Mountain Incorporated is making the offering by means of a shelf registration statement previously declared effective by the Securities and Exchange Commission. Copies of the final Prospectus Supplement and Prospectus for the offering may be obtained from the underwriters.
This announcement shall not constitute an offer to sell or the solicitation of any offer to buy securities, nor shall there be any sale of these securities in any state in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
About Iron Mountain
Iron Mountain Incorporated is the world's trusted partner for outsourced records and information management services. Founded in 1951, the Company has grown to service more than 150,000 customer accounts throughout the United States, Canada, Europe and Latin America. Iron Mountain offers records management services for both physical and digital media, disaster recovery support services and consulting services—services that help businesses save money and manage risks associated with legal and regulatory compliance, protection of vital information, and business continuity challenges. For more information, visitwww.ironmountain.com.
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