BELLEVUE, Wash., June 9, 2014 /PRNewswire/ -- Outerwall Inc.
(Nasdaq: OUTR) today announced that it has consummated its private
offering to sell $300 million in
aggregate principal amount of senior unsecured notes due 2021 (the
"Notes"). The Notes were initially sold at a price of 100.000% of
the principal amount thereof and will have an interest rate of
5.875% per annum with semi-annual cash interest payments. Outerwall
intends to use the proceeds from the offering to repay existing
indebtedness under its credit facility, but may reserve a portion
of the proceeds for general corporate purposes, which may include
but are not limited to maintenance or repayment of other
outstanding debt, acquisitions or other investments, and payment of
other corporate expenses.
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This press release is for informational purposes only. The Notes
have been offered and sold only to qualified institutional buyers
in the United States in reliance
on the exemption from registration set forth in Rule 144A of the
Securities Act of 1933, as amended (the "Securities Act"), and
outside the United States to
non-U.S. persons pursuant to Regulation S of the Securities
Act.
The Notes have not been registered under the Securities Act or
any state securities laws, and, unless so registered, may not be
offered or sold in the United
States absent registration or an applicable exemption from,
or in a transaction not subject to, the registration requirements
of the Securities Act and other applicable securities laws.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any securities nor has there been
any sale of these securities in any state or other jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or other jurisdiction.
About Outerwall Inc.
Outerwall Inc. has more than 20 years of experience creating
some of the most profitable spaces for their retail partners. The
company mission is to create a better everyday by delivering
breakthrough kiosk experiences that delight consumers and generate
revenue for retailers. As the company that brought consumers
Redbox® entertainment, Coinstar® money
services, and ecoATM® electronics recycling kiosks,
Outerwall is leading the next generation of automated retail and
paving the way for inventive, scalable businesses. Outerwall™
kiosks are in neighborhood grocery stores, drug stores, mass
merchants, malls, and other retail locations in the United States, Canada, Puerto
Rico, the United Kingdom,
and Ireland.
Safe Harbor for Forward-Looking Statements
Certain statements in this press release are "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. The words "believe," "will," "expect,"
"intend," "anticipate" and variations of such words, and similar
expressions identify forward-looking statements, but their absence
does not mean that a statement is not forward-looking. The
forward-looking statements in this release include statements
regarding the offering of the Notes. Forward-looking statements are
not guarantees of future actions, results, performance or events,
which may vary materially from those expressed or implied in such
statements. Differences may result from actions taken by Outerwall
or its management, as well as from risks and uncertainties beyond
Outerwall's control. Such risks and uncertainties include, but are
not limited to, the use of proceeds relating to the Notes offering,
changes in Outerwall's strategic and financial objectives, and the
ability to attract new retailers and customers, penetrate new
markets and distribution channels and react to changing consumer
demands. The foregoing list of risks and uncertainties is
illustrative but by no means exhaustive. For more information on
factors that may affect Outerwall, please review "Risk Factors" and
other disclosures described in Outerwall's most recent Annual
Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q
filed with the Securities and Exchange Commission, as well as other
public filings with the Securities and Exchange Commission. These
forward-looking statements reflect Outerwall's expectations as of
the date of this release. Outerwall undertakes no obligation to
update the information provided herein.
SOURCE Outerwall Inc.