Apollo Global Management is set to exit Coinstar through a sale to Arctic Slope Regional Corporation (ASRC), in a transaction that will see the company’s bondholders repaid in full, according to a report by Bloomberg citing unnamed people familiar with the matter.
Coinstar, the coin-exchange and cryptocurrency kiosk operator acquired by Apollo in 2016, is expected to repay more than $750m of principal, along with accrued interest, in early January as part of the deal. The repayment relates to Coinstar’s whole business securitisation bonds and follows a notice circulated privately to bond investors.
The transaction with ASRC has not previously been disclosed. ASRC was established in 1972 under the Alaska Native Claims Settlement Act and manages investments on behalf of indigenous communities in Alaska’s far north. The group owns a diversified portfolio of businesses spanning construction, petroleum refining and government services, and is ultimately owned by around 14,000 Iñupiaq shareholders.
The planned debt repayment is a positive outcome for creditors, particularly after Coinstar restructured its debt in 2023 to address liquidity pressures following a post-pandemic slowdown in its core business. At the time, some investors had expressed concern that longer-term structural challenges facing cash-based services could lead to further financial stress.
Coinstar operates a global network of more than 24,000 kiosks, enabling consumers to exchange coins for cash and, more recently, access certain cryptocurrency-related services. The sale marks Apollo’s latest portfolio realisation as the private equity firm continues to actively manage and monetise its mature investments.
