Davis Polk advised Credit Suisse Securities (USA) LLC and Goldman Sachs Lending Partners LLC as joint lead arrangers, Credit Suisse Securities (USA) LLC, Goldman Sachs Lending Partners LLC, Barclays Capital, Deutsche Bank Securities Inc. and Wells Fargo Securities, LLC as joint bookrunners, and Credit Suisse AG as administrative agent and collateral agent, in connection with a $675 million senior secured term loan credit facility provided to Amscan Holdings, Inc. The obligations under the credit facility are guaranteed by AAH Holdings Corporation and all domestic subsidiaries of Amscan Holdings, Inc. and secured by substantially all of the assets of Amscan Holdings, Inc. and the guarantors.
Amscan Holdings, Inc. will use the proceeds of the credit facility to refinance indebtedness outstanding under its existing senior secured term loan facility, to pay a special cash dividend to its shareholders and to improve its financial flexibility.
Amscan Holdings, Inc. is a leading manufacturer, wholesaler and retailer of party goods and accessories in the United States. Its retail business, which consists of nearly 1,200 year-round and seasonal corporate and franchise locations, includes Party City, Halloween USA, Halloween City and The Paper Factory.
The Davis Polk credit team includes partner Joseph P. Hadley and associates Angela Doolan and Steven Schuh. The tax team includes partner Kathleen L. Ferrell and associate Jason A. Chlipala. The real estate team includes counsel Susan D. Kennedy and associate Joshua Erez. Sonya Jackman and Rana S. Ramjas were the legal assistants on the transaction. All members of the Davis Polk team are based in the New York office.
