Coinstar amends loan, allowing for acquisition, changing pricing

By Sara Rosenberg

New York, Feb. 12 - Coinstar Inc. amended its credit facility on Thursday, allowing for an acquisition and revising pricing, according to an 8-K filed with the Securities and Exchange Commission.

Coinstar is buying GetAMovie Inc.'s 44.4% voting interests in Redbox Automated Retail LLC, GetAMovie's right, title and interest in a term promissory note made by Redbox in the principal amount of $10 million.

Pricing on the credit facility can now range from Libor plus 250 basis points to 350 bps based on leverage.

Also the consolidated leverage ratio was changed to 3.5 times until March 31, 2010, 3.25 times from June 30, 2010 through Dec. 31, 2010 and 3.0 times from March 31, 2011 and thereafter.

Bank of America is the administrative agent on the deal.

Coinstar is a Bellevue, Wash.-based provider of a range of solutions for retailers' storefronts, including self-service coin counting, entertainment services and e-payment services.

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