Iron Mountain Inc. Files 8-K for Material Definitive Agreement

TL;DR

Iron Mountain just signed a big deal, filing an 8-K on Nov 7, 2024. Watch their financials.

AI Summary

On November 7, 2024, Iron Mountain Incorporated entered into a material definitive agreement related to a direct financial obligation. The company, incorporated in Delaware, filed an 8-K report detailing this significant financial commitment.

Why It Matters

This filing indicates a significant new financial commitment or obligation for Iron Mountain, which could impact its financial structure and future operations.

Risk Assessment

Risk Level: medium — Entering into material definitive agreements and direct financial obligations can introduce new financial risks or opportunities that warrant investor attention.

Key Players & Entities

• Iron Mountain Incorporated (company) — Registrant
• November 7, 2024 (date) — Date of report and earliest event
• Delaware (jurisdiction) — State of Incorporation

FAQ

Key Financial Figures

• $500 million — ed under the 2022 Revolving Facility by $500 million. The Company, Iron Mountain Informatio
• $2,250,000,000 — ount of 2022 Revolving Commitments from $2,250,000,000 to $2,750,000,000. After giving effect
• $2,750,000,000 — ving Commitments from $2,250,000,000 to $2,750,000,000. After giving effect to the Amendment,
• $218,750,000 — s contemplated therein, the Company had $218,750,000 of outstanding borrowings of 2022 Term
• $1,197,000,000 — erm A Loans under the Credit Agreement, $1,197,000,000 of outstanding borrowings of 2022 Revol
• $7,898,126.85 — borrowings of 2022 Revolving Loans and $7,898,126.85 of undrawn Letters of Credit (and $1,54
• $1,545,101,873.15 — 26.85 of undrawn Letters of Credit (and $1,545,101,873.15 of available 2022 Revolving Commitments

Filing Documents

• tm2427786d1_8k.htm (8-K) — 28KB
• tm2427786d1_ex10-1.htm (EX-10.1) — 1196KB
• 0001104659-24-115356.txt ( ) — 1225KB

01

Item 1.01. Entry into a Material Definitive Agreement. Credit Agreement Amendment On November 7, 2024, Iron Mountain Incorporated (the " Company ") entered into an amendment to its Credit Agreement (as defined below) to (i) push out the maturity dates of its 2022 Revolving Facility and 2022 Term A Loans by over three years, (ii) remove the credit spread adjustment applicable to the 2022 Revolving Facility and 2022 Term A Loans (but otherwise retained the same interest spreads) and (iii) increase the amount available to be borrowed under the 2022 Revolving Facility by $500 million. The Company, Iron Mountain Information Management, LLC (" IMIM "), and certain other subsidiaries of the Company entered into an Amendment No. 5 (the " Amendment "), dated as of November 7, 2024, to the Company's Credit Agreement, dated as of June 27, 2011 (as previously amended, restated, amended and restated, supplemented or otherwise modified from time to time, the " Credit Agreement "; capitalized terms used but not defined herein shall have the meanings assigned therefor in the Credit Agreement), by and among, inter alia, the Company, IMIM, the other borrowers party thereto, the lenders party thereto, JPMorgan Chase Bank, N.A., as the administrative agent, and JPMorgan Chase Bank, N.A., Toronto Branch, as Canadian administrative agent. Pursuant to the Amendment, among other things, the Borrowers (a) decreased the interest rate applicable to the 2022 Revolving Loans and the 2022 Term A Loans by removing the credit spread adjustment applicable thereto, (b) extended the maturity date and the Commitment Termination Date applicable to the 2022 Revolving Commitments and the 2022 Revolving Loans, (c) extended the maturity date applicable to the 2022 Term A Loans and (d) increased the aggregate amount of 2022 Revolving Commitments from $2,250,000,000 to $2,750,000,000. After giving effect to the Amendment, the 2022 Term A Loans and the 2022 Revolving Facility mature on March 18, 2030.

03

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information included in

01 of this Current Report on Form 8-K is incorporated into this Item 2.03 by reference

Item 1.01 of this Current Report on Form 8-K is incorporated into this Item 2.03 by reference.

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits 10.1* Amendment No. 5 to Credit Agreement, dated as of November 7, 2024, among the Company, certain other subsidiaries of the Company party thereto, the lenders and other financial institutions party thereto, and JPMorgan Chase Bank, N.A., as Administrative Agent. (Filed herewith) 104 Cover Page Interactive Data File (the cover page XBRL tags are embedded within the inline XBRL document). *Certain schedules have been omitted pursuant to Item 601(a)(5) or Regulation S-K and will be provided on a supplemental basis to the Securities and Exchange commission upon request.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. IRON MOUNTAIN INCORPORATED By: /s/ Barry Hytinen Name: Barry Hytinen Title: Executive Vice President and Chief Financial Officer Date: November 7, 2024

View Full Filing

View this 8-K filing on SEC EDGAR