Coinstar has obtained a new five-year senior credit facility. The new loan comprises a senior secured $450 million revolving line of credit commitment and a senior secured $175 million five-year amortizing term loan facility. The automated retail solutions provider, under certain conditions, may increase the size of the loan to an additional $250 million in total.
Some of the funds will be used to repay the amount outstanding under Coinstar’s prior revolving line of credit, which was $150 million as of March 31, 2011. Merrill Lynch, Pierce, Fenner & Smith and Wells Fargo Securities were the joint lead arrangers and joint book managers on the transaction. Bank of America was the administrative agent.
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