NEWS

Allens advises Iron Mountain on groundbreaking $250 million syndicated Term Loan B facility

By Tim Stewart
Banking Financial Services Royal Commission

Allens has advised Iron Mountain Incorporated (Iron Mountain) on an Australian dollar syndicated Term Loan B facility to be used for the refinancing of its existing facilities.

The financing involved a wholly owned subsidiary of Iron Mountain, Iron Mountain Australia Group Pty Ltd, entering into a $250 million syndicated facility agreement with funding obtained by way of an Australian sourced Term Loan B. The lending syndicate includes a number of global and Australian institutional investors.

This unique transaction is the first Australian Term Loan B, not only to be funded in Australian dollars, but also to be documented under the laws of an Australian jurisdiction.

Barclays Bank, Credit Agricole Securities (USA) Inc, and HSBC Bank Australia Limited are the joint lead arrangers and bookrunners for the loan.

Iron Mountain is a leading global records and information management company with more than 1350 facilities across 45 countries.

The Allens team was led by banking & finance partner Tim Stewart. The team included senior associates Katrina Huang and Lily Zhang and lawyers Kevin Ngo, Nicholas Swart and Max Chapman.

'We are pleased to have assisted Iron Mountain on this groundbreaking deal in the Australian market,' Tim said.

 

Allens legal team

Banking & finance Partner Tim Stewart, senior associates Katrina Huang and Lily Zhang and lawyers Kevin Ngo, Nicholas Swart and Max Chapman.

Ends

Notes for editors.

Allens is a commercial law firm working throughout Australia and Asia. Through its integrated alliance with Linklaters it provides clients access to 40 offices in 28 countries around the world.