Brief: PCHI Gets Court Approval Of Plan Of Reorganization, Paving Way For Emergence

Party City Holdco

06/09/2023 20:13

Sept 6 (Reuters) - Party City Holdco Inc  PRTYQ.PK :
    * PCHI RECEIVES COURT APPROVAL OF PLAN OF REORGANIZATION,
PAVING
THE WAY FOR EMERGENCE
    * PARTY CITY HOLDCO INC - COMPANY TO EXIT CHAPTER 11 WITH
STRENGTHENED FINANCIAL POSITION, INCLUDING NEARLY $1 BILLION
DEBT REDUCTION
    * PARTY CITY HOLDCO INC - PLAN PROVIDES FOR A NEW EXIT ABL
FACILITY OF $562 MILLION AND A FULLY BACKSTOPPED $75 MILLION NEW
MONEY INVESTMENT
    * PARTY CITY HOLDCO INC - UNDER TERMS OF APPROVED PLAN, PCHI
IS
EXPECTED TO EMERGE WITH NEW SHAREHOLDERS

Source text for Eikon:  ID:nPn8YFmBga 
Further company coverage:  PRTYQ.PK 

 ((Reuters.Briefs@thomsonreuters.com;))