Response to COVID-19 & Project Summit Key Goals
Balanced Sheet Remains Well Positioned
.
Successful Bond Offering in 2Q20
Completed a
leverage-neutral
$2.4 billion bond offering
in June
Extended maturity profile
by ~2 years
~$1.2 billion of liquidity
pro forma for redemption
of $1.0 billion 2024 notes
on July 2
.
Balance Sheet Highlights as of
6/30/20
~85% Fixed Rate Debt
• 4.6% weighted average
interest rate
⚫ 7.0 years
weighted-average
maturity
29
29
Net Lease Adjusted Leverage
Note: The leverage neutral, pending debt offering that was announced and priced on August 10, 2020 is not taken into account in these metrics.
Source: J.P. Morgan REIT Weekly U.S. Real Estate report July 2, 2020 and company reports
6.3x
5.4x
5.6x
J.P.
Morgan
REIT
Composite
IRM Q2
2020
IRM 2020
Outlook
IRON MOUNTAIN"View entire presentation