Iron Mountain Calms Bondholders on Dividend: Corporate Finance
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Iron Mountain Inc., the document-storage company that was pressured by Elliott Management Corp. to change its strategy, is persuading the bond market it can reward shareholders without harming its creditworthiness.
The company’s $300 million of 8 percent notes due June 2020 rose for the first time in six days yesterday, gaining 0.25 cent to 103.5 cents on the dollar, according to Trace, the bond-price reporting system of the Financial Industry Regulatory Authority. Its 8.375 percent debt due August 2021 rose today for a second day, Trace data show.
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Iron Mountain Calms Bondholders on Dividend: Corporate Finance