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Apollo to Sell Coinstar to Alaska Buyer, Bonds Set to Be Repaid
Yahoo Finance· 2025-12-31 17:29
Group 1 - Coinstar LLC, owned by Apollo Global Management Inc., plans to repay bondholders over $750 million in principal and interest as part of its sale to Arctic Slope Regional Corp. [1][2] - The acquisition by ASRC, which was not previously disclosed, is part of a strategy to manage Coinstar's debt and improve its financial position [1][4] - Coinstar operates over 24,000 kiosks for exchanging loose change and has expanded into digital currency offerings, allowing customers to buy cryptocurrency [7] Group 2 - ASRC, formed under the Alaska Native Claims Settlement Act, owns businesses in various sectors and has distributed over $1 billion in dividends to its shareholders since its inception [5][6] - The expected debt repayment is seen as positive news for creditors, especially after a restructuring of Coinstar's debt in 2023 due to cash flow challenges [4]