Party City to repay $490 million of facility debt via note proceeds

By Sarah Lizee

Olympia, Wash., July 23 – Party City Holdings Inc. plans to repay $400 million of term loans and $90 million of asset-based revolving loans under its senior credit facilities using proceeds from a new offering.

The company is proposing to offer $500 million of senior notes due 2026, according to a press release.

Proceeds from the offering will also be used to pay all related fees and expenses.

Party City is an Elmsford, N.Y.-based supplier of decorated party goods.

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