Outerwall holders tender 76.91% of 6% notes, 98.7% of 5 7/8% notes in Aspen offer

By Susanna Moon

Chicago, Sept. 23 – Outerwall Inc. holders had tendered $246,578,000, or 76.91%, of the 6% senior notes due 2019 and $225,618,000, or 98.7%, of the 5 7/8% senior notes due 2021.

As announced Aug. 25, Aspen Merger Sub, Inc., an affiliate of funds managed by affiliates of Apollo Global Management, LLC, was tendering for Outerwall’s $320,614,000 outstanding 6% notes and its $228,598,000 outstanding 5 7/8% notes until midnight ET on Sept. 22.

The tender offers were being made in connection with the acquisition of Outerwall by Aspen’s indirect parent.

The total purchase price for each $1,000 principal amount was $1,032.50 for the 2019 notes and $1,077.92 for the 2021 notes.

The total amount includes an early tender premium of $20.00 per $1,000 principal amount of notes tendered by midnight ET on Sept. 8, the early tender date.

Those who tendered after the early deadline will receive the total amount less the early premium.

Eaglehill Advisors LLC, Barclays, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc. and Jefferies LLC are joint dealer managers for the tender offers. Global Bondholder Services Corp. (212 430-3774 for brokers and banks or 866 470-3900 for all others) is the tender agent and information agent.

Apollo is an alternative investment manager based in New York. Outerwall is a Bellevue, Wash.-based provider of retail products and services via self-service interactive kiosks.

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