Item 2.03.
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
On June 4, 2018, Iron Mountain Incorporated, or the Company, Iron Mountain Information Management, LLC, or IMIM, and certain other subsidiaries of the Company entered into a third amendment and refinancing facility agreement, or the Third Amendment, to the Companys credit agreement, as previously amended, with certain lenders, JPMorgan Chase Bank, N.A., as administrative agent, and JPMorgan Chase Bank, N.A., Toronto Branch, as Canadian administrative agent, or the Credit Agreement, to refinance certain facilities under the Credit Agreement and to amend the Credit Agreement in certain respects. As a result of the Third Amendment, the Company refinanced its $1.75 billion revolving credit facility, or the Revolving Credit Facility, and its $250.0 million term loan A facility, or the Term Loan A Facility, and, together with the Revolving Credit Facility, the Refinanced Facilities. The Third Amendment extended the maturity date of the Refinanced Facilities to June 4, 2023 and reduced interest rate margins applicable to existing and future borrowings under the Refinanced Facilities by 0.25%.
As of
June 4, 2018, the Company had approximately $988 million and $250 million of outstanding borrowings under the Revolving Credit Facility and the Term Loan A Facility, respectively. Borrowings under the Revolving Credit Facility continue to be available for general corporate purposes. The maturity, amortization and interest rate terms applicable to the $700.0 million term loan B facility under the Credit Agreement were unaffected by the Third Amendment.
The above description of the Third Amendment is not complete and is subject to and qualified in its entirety by reference to the Credit Agreement, a copy of which is attached as Exhibit 10.1 to the Companys Current Report on Form 8-K filed with the Securities and Exchange Commission, or the SEC, on August 22, 2017, to the First Amendment to the Credit Agreement, a copy of which is attached as Exhibit 10.55 to the Companys Annual Report on Form 10-K for the year ended December 31, 2017, to the Second Amendment, a copy of which is attached as Exhibit 10.1 to the Companys Current Report on Form 8-K filed with the SEC on March 27, 2018, and the Third Amendment, a copy of which is attached hereto as Exhibit 10.1, each of which is incorporated herein by reference.