Apollo-Backed Coinstar, Creditors Tap Advisers as Payments Near

Coinstar LLC, the Apollo Global Management-backed company known for kiosks that swap coins for cash, and a group of its creditors have tapped advisers to explore options ahead of fast-approaching amortization payments, according to people with knowledge of the matter.

(Bloomberg) — Coinstar LLC, the Apollo Global Management-backed company known for kiosks that swap coins for cash, and a group of its creditors have tapped advisers to explore options ahead of fast-approaching amortization payments, according to people with knowledge of the matter.

The company is getting advice from Guggenheim Partners and PJT Partners, while a group of asset-backed noteholders is working with Houlihan Lokey Inc. and law firm King & Spalding, said the people, who asked not to be identified because the matter is private.

Coinstar is facing amortization payments on about $900 million of asset-backed securities in April, according to data compiled by Bloomberg. The company may need to seek some kind of relief from creditors related to the payments, according to the people.

Coinstar, Houlihan Lokey and Guggenheim didn’t immediately respond to requests for comment. Representatives for Apollo, King & Spalding and PJT declined to comment.

Bellevue, Washington-based Coinstar has for decades allowed consumers to trade in loose change for cash — for a fee — at self-service kiosks. The company now also allows customers to purchase cryptocurrency at some kiosks.

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