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February 09, 2016 2:08 PM ET

Specialty Retail

Company Overview of Party City Corporation

Company Overview

Party City Corporation operates and franchises stores that sell party goods and supplies in the United States and Puerto Rico. The company offers products in the areas of special occasions, holiday parties, Halloween costumes, entertainment and serving, color tableware, party favors and candies, balloons, invitations, weddings, and baby showers. Party City Corporation also provides birthday supplies, such as girls birthday products, boys birthday products, first birthday, milestone birthday, birthday invitations, birthday party favors, birthday decorations, birthday balloons, pinates and games, and cake supplies. In addition, the company offers costumes, including baby and toddler costumes, ...

25 Green Pond Road

Suite 1

Rockaway, NJ 07866

United States

Founded in 1986

1,600 Employees





Key Executives for Party City Corporation

President and Member of Executive Committee
Age: 45
Chief Executive Officer of Amscan Holdings Inc
Age: 63
Chief Information Officer, Vice President, and Member of Executive Committee
Age: 60
Compensation as of Fiscal Year 2015.

Party City Corporation Key Developments

Party City Holdings Inc. and Party City Corporation Announces Second Amendment to Term Loan Credit Agreement

Party City Holdings Inc. and Party City Corporation modified the Borrowers' Term Loan Credit Agreement by entering into the Second Amendment to Term Loan Credit Agreement, which amends the Term Loan Credit Agreement, dated as of July 27, 2012 by and among the Borrowers, PC Intermediate Holdings Inc. Deutsche Bank Trust Company Americas, as administrative agent, the various lenders party thereto and the other agents. The Second Amendment replaces loans outstanding under the Credit Agreement immediately prior to the Second Amendment Effective Date with a new class of term loans in an aggregate principal amount of $1,111 million. The Amended Credit Agreement provides for a reduction in the applicable margins of all term loans. The applicable margin for ABR borrowings was lowered from 2.25% to 2.00%, and the applicable margin for LIBOR borrowings was lowered from 3.25% to 3.00%. The Amended Credit Agreement provides for two pricing options are an ABR for any day, a rate per annum equal to the greater of Deutsche Bank's prime rate in effect on such day, the federal funds effective rate in effect on such day plus 0.5%, the adjusted LIBOR rate plus 1% and 2.00% or the LIBOR rate, adjusted for certain additional costs, with a LIBOR floor of 1.00%, in each case plus the applicable margin. The Amended Credit Agreement provides for a soft call option, whereby the Borrowers will pay a 1.00% premium on the outstanding principal amount of New Term Loans prepaid, refinanced, substituted or otherwise replaced, or the terms of which are amended, in connection with certain repricing transactions occurring on or prior to the date that is six months after the Second Amendment Effective Date. Otherwise, the term loans may be voluntarily prepaid at any time without premium or penalty, other than customary breakage costs with respect to loans based on the LIBOR rate. Except for those terms described herein, the other terms of Credit Agreement, as amended, have not changed materially, including the maturity date, installment payments, guarantees and pledges of security, affirmative and negative covenants, and events of default.

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