Coinstar, Inc. Announces Pricing of $350 Million Senior Unsecured Notes
BELLEVUE, Wash., March 7, 2013
BELLEVUE, Wash., March 7, 2013 /PRNewswire/ -- Coinstar, Inc. (Nasdaq: CSTR)
today announced that it has priced its previously announced private offering
and will sell $350 million in aggregate principal amount of senior unsecured
notes due 2019 (the "Notes"). The Notes will be sold to investors at a price
of 100.000% of the principal amount thereof and will have an interest rate of
6.000% per annum with semi-annual cash interest payments. The closing is
expected to occur on March12, 2013, subject to customary closing conditions.
Coinstar intends to use the proceeds from the offering for general corporate
purposes, which may include but is not limited to maintenance or repayment of
outstanding debt, acquisitions or other investments, and payment of other
The Notes were offered to qualified institutional buyers in accordance with
Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"),
and to non-U.S. persons outside the United States pursuant to Regulation S
under the Securities Act.
The Notes have not been registered under the Securities Act or any state or
other jurisdiction's securities laws. Accordingly, the Notes may not be
offered or sold in the United States absent registration or an applicable
exemption from registration requirements under the Securities Act and any
applicable state or other jurisdiction's securities laws.
This press release shall not constitute an offer to sell or the solicitation
of an offer to buy any securities nor shall there be any sale of any
securities in any state or jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.
About Coinstar, Inc.
Coinstar, Inc. (Nasdaq: CSTR) is a leading provider of automated retail
solutions offering convenient services that make life easier for consumers and
drive incremental traffic and revenue for retailers. The company's core
automated retail businesses include the well-known Redbox® self-service DVD
and video game rental and Coinstar® self-service coin-counting brands. The
company has approximately 43,700 Redbox DVD kiosks and 20,300 coin-counting
kiosks in supermarkets, drug stores, mass merchants, financial institutions,
convenience stores, and restaurants. Redbox also offers DVD rentals through
additional kiosks acquired from NCR Corporation in June 2012.
Safe Harbor for Forward-Looking Statements
Certain statements in this press release are "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of 1995.
The words "believe," "will," "expect," "intend," "anticipate" and variations
of such words, and similar expressions identify forward-looking statements,
but their absence does not mean that a statement is not forward-looking. The
forward-looking statements in this release include statements regarding the
offering of the Notes. Forward-looking statements are not guarantees of
future actions, results, performance or events, which may vary materially from
those expressed or implied in such statements. Differences may result from
actions taken by Coinstar or its management, as well as from risks and
uncertainties beyond Coinstar's control. Such risks and uncertainties
include, but are not limited to, ability to meet the closing conditions of the
Notes offering, changes in the financial markets, changes in Coinstar's
strategic and financial objectives, and the ability to attract new retailers,
penetrate new markets and distribution channels and react to changing consumer
demands. The foregoing list of risks and uncertainties is illustrative but by
no means exhaustive. For more information on factors that may affect
Coinstar, please review "Risk Factors" and other disclosures described in
Coinstar's most recent Annual Report on Form 10-K filed with the Securities
and Exchange Commission, as well as other public filings with the Securities
and Exchange Commission. These forward-looking statements reflect Coinstar's
expectations as of the date of this release. Coinstar undertakes no
obligation to update the information provided herein.
SOURCE Coinstar, Inc.
Contact: Rosemary Moothart, Director of Investor Relations, Coinstar, Inc.,
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