IRM · Earnings call · 2026Q2T · Full report
Liquidity and Debt Position
IRON MOUNTAIN INC · 2026-08-05 · Importance 58 · Surprise 42 · In source text
Net lease-adjusted leverage ended the quarter at 4.8x, the company's lowest level on this metric since before its 2014 REIT conversion.,Iron Mountain issued $1.5 billion of bonds during the quarter with a 6.25% fixed coupon and a 2035 maturity.,The new bonds included Iron Mountain's first investment-grade covenant package, reflecting continued support from debt investors for the company's credit profile.,Management linked the improved leverage position to strong EBITDA performance while continuing to fund growth initiatives.
Key facts
- IRON MOUNTAIN INC issued a $1.5 billion bond in Q2 2026 with a 6.25% fixed coupon maturing in 2035 and including their first-ever investment-grade covenant package.
- IRON MOUNTAIN INC ended Q2 2026 with net lease adjusted leverage of 4.8x, the lowest level on this metric since prior to the company's REIT conversion in 2014.
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| liability | negative | realized | -6.8% | IRON MOUNTAIN INC issued a $1.5 billion bond in Q2 2026 with a 6.25% fixed coupon maturing in 2035 and including their first-ever… |