October 21, 2016 2:50 PM ET

Specialty Retail

Company Overview of Party City Holdings Inc.

Company Overview

Party City Holdings Inc., through its subsidiaries, designs, manufactures, contracts for manufacture, and distributes party goods worldwide. The company operates in two segments, Wholesale and Retail. It offers a selection of decorated party goods with approximately 40,000 stock keeping units (SKUs), including paper and plastic tableware, metallic and latex balloons, novelties, costumes and other garments, stationery, and gifts for everyday, themed, and seasonal events. The company also distributes its products to company-owned and franchised retail stores, other party goods retailers, mass merchants, independent card and gift stores, dollar stores, and other retailers and distributors. In a...

80 Grasslands Road

Elmsford, NY 10523

United States

Founded in 1947

7,313 Employees



Key Executives for Party City Holdings Inc.

Chief Executive Officer and Director
Age: 64
Age: 46
Executive Chairman
Age: 64
Chief Accounting Officer
Age: 58
Director of Internal Audit
Compensation as of Fiscal Year 2016.

Party City Holdings Inc. Key Developments

Party City Holdings Inc. Proposes Offering of $350 Million Aggregate Principal Amount of Senior Notes Due 2023

Party City Holdco Inc. announced the proposed offering by its wholly-owned subsidiary Party City Holdings Inc. of $350 million aggregate principal amount of senior notes due 2023. The Notes and the related Notes guarantees will be offered in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended and to non-U.S. persons in accordance with Regulation S under the Securities Act. The precise timing, size and terms of the offering are subject to market conditions and other factors. The net proceeds from the sale of the Notes, together with borrowings under PCHI’s senior credit facilities, will be used to redeem all of the $700 million outstanding aggregate principal amount of the 8.875% senior notes due 2020 issued by PCHI and to pay accrued interest, premiums, fees and expenses related thereto. The foregoing does not constitute a notice of redemption for or an obligation to issue a notice of redemption for PCHI’s Notes. The Notes will be guaranteed each subsidiary that guarantees PCHI’s senior credit facility.

Party City Holdings Inc. Announces Refinancing of ABL Credit Agreement

Beginning on July 29, 2015, Party City Holdings Inc. intends to make available to potential lenders certain information regarding the business and operations of the company in connection with a proposed debt refinancing transaction, including refinancing of (i) that certain ABL Credit Agreement, dated as of July 27, 2012, among PC Intermediate Holdings Inc., the company, Party City Corporation (as successor by merger to PC Finance Sub Inc.), the subsidiaries of the borrowers from time to time party thereto, the financial institutions party thereto as lenders, and Deutsche Bank Trust Company Americas, as Administrative Agent (as amended, restated, supplemented or otherwise modified, the ABL Credit Agreement) and (ii) that certain term loan credit agreement, dated as of July 27, 2012, among PC Intermediate Holdings Inc., the company, Party City Corporation (as successor by merger to PC Finance Sub Inc.), the subsidiaries of the borrowers from time to time party thereto, the financial institutions party thereto as lenders, and Deutsche Bank Trust Company Americas, as administrative agent (as amended, restated, supplemented or otherwise modified, the Term Loan Credit Agreement). In addition the company intends to redeem $350 million of its outstanding $700 million aggregate principal amount 8.875% senior notes due 2020 (the Notes) (the refinancing of the ABL Credit Agreement and the Term Loan Credit Agreement, and the partial redemption of the Notes collectively, the Refinancing). The consummation of the proposed refinancing is subject to market and other conditions and there can be no assurance as to the terms of the proposed refinancing or that the proposed refinancing, including the partial redemption of the notes, will occur.

Party City Holdings Inc. Reports Retail Sales Results for the Five-Week Halloween Season Ended November 1, 2014

Party City Holdings Inc. reported retail sales results for the five-week Halloween season ended November 1, 2014. Retail sales for the five-week period ended November 1, 2014 totaled $432 million and were $37 million or 9.3% higher than retail sales for the five-week period ended November 2, 2013. During the five-week Halloween season of 2014, the Party City brand comp (including domestic and Canadian e-commerce sales and all non-temporary company-owned stores operated by Party City during both the 2014 and 2013 Halloween seasons) experienced an 8.3% increase. The e-commerce sales included in brand comp increased by 12.8% compared to the 2013 Halloween selling season. In addition, average sales per temporary Halloween City store increased by 13.8% compared to the average during the 2013 five-week Halloween selling season.

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