Apollo-Backed Coinstar Gets Breathing Room From Bondholders

A pair of bondholders has agreed to advance $90 million in additional debt to Coinstar LLC, giving the struggling operator of coin-counting kiosks more breathing room to refinance maturing debt and cover expenses, according to people familiar with the matter.

The company, which is owned by private equity firm Apollo Global Management, has been in talks with creditors over how to restructure approximately $1 billion in asset-backed bonds that reached a key repayment date in late April. The bonds were whole business securitization deals, in which the company effectively pledges all its assets in exchange for cheap financing. ...