Iron Mountain Australia, a storage and information management services company, closed on an AU$250 million ($192 million) term loan B facility, which matures in September 2022 and bears interest at BBSY+4.25%. The proceeds will be used to repay amounts outstanding under Iron Mountain’s existing revolving credit facility and for general corporate purposes.

“We are pleased to close on this Australian dollar term loan; shifting debt to international markets creates a natural foreign currency hedge and a tax-efficient debt structure,” said Stuart Brown, EVP and CFO.

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