ELMSFORD, N.Y.--(BUSINESS WIRE)--Party City Holdco Inc. (NYSE:PRTY) today announced the pricing of an offering by its wholly-owned subsidiary Party City Holdings Inc. of $500 million aggregate principal amount of 6.625% senior notes due 2026 (the “Notes”). The Notes and the related Notes guarantees will be offered in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”) and to non-U.S. persons in accordance with Regulation S under the Securities Act. The offering is expected to close on August 2, 2018, subject to customary closing conditions.

Concurrently with the closing of the offering, we expect to enter into an amendment to PCHI’s senior secured asset-based revolving credit facility (the “ABL Facility”), which will extend the maturity date of the ABL Facility to the date that is the five year anniversary of the closing of the amendment. Under certain circumstances, the maturity of the ABL Facility may spring to an earlier date if PCHI does not extend the maturity dates of its senior secured term loan facility or its 6.125% senior notes due 2023. Consummation of the offering is not conditioned upon the consummation of the amendment to the ABL Facility and vice versa.

About Party City

Party City Holdco Inc. is the leading decorated party goods retailer by revenue in North America and, it believes, the largest vertically integrated supplier of decorated party goods globally by revenue. With approximately 950 locations (inclusive of franchised stores), Party City has the only coast-to-coast network of party superstores in the U.S. and Canada and such stores make it easy and fun to enhance special occasions with a differentiated shopping experience and an unrivaled assortment of innovative and exciting merchandise offered at a compelling value. Party City also operates multiple e-commerce sites, principally under the domain name PartyCity.com.