Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant.
Credit Agreement Amendment
At December 12, 2021, Iron Mountain Incorporated (the “Company”) has obtained a technical amendment (the “Amendment”) to the Credit Agreement, dated June 27, 2011 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), by and between, among others, the Company, the other borrowers and guarantors parties thereto, the lenders parties thereto, and JPMorgan Chase Bank, North America., as administrative agent. The Amendment will allow the Company to deal Intercept Parent, Inc. (“ITRenew”) as a wholly owned subsidiary under the Credit Agreement in connection with the Company’s acquisition (the “Acquisition”) of ITRenew pursuant to the agreement to acquire the December 10, 2021 among Iron Mountain, Inc. Information Management Services (“IMIMS”),
ITRenew, Intercept Intermediate II, LLConly for certain limited purposes, the Company and the other signatories thereof, notwithstanding the fact that IMIMS will acquire approximately 80% of the capital of ITRenew at the closing of the Acquisition. Except for the technical modifications described above, the terms of the credit agreement are unchanged, in particular with respect to maturity, amortization, events of default and interest rate.
From September 30, 2021the Company had approximately $310 million, $206 million and $674 million outstanding borrowings under the Revolving Credit Facility, Term Loan A Facility and Term Loan B Facility, respectively, under the Credit Facility.
The above description of the Amendment is not complete and is subject to and qualified in its entirety by reference to the Amendment and the Credit Agreement, a copy of which is attached as Schedule 10.1 to this report and incorporated herein by reference.
Item 9.01. Financial statements and supporting documents.
10.1 Fifth Amendment, dated as of December 12, 2021, to Credit Agreement,
dated as of June 27, 2011, as amended and restated, among the Company,
certain other subsidiaries of the Company party thereto, the lenders and
other financial institutions party thereto, JPMorgan Chase Bank, N.A.,
Toronto Branch, as Canadian Administrative Agent, 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).
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