Party City Bonds Tumble After Retailer Cuts Revenue Forecast
By Norah Mulinda
May 9, 2022, 1:29 PM
Bonds issued by Party City drop on Monday after the retailer reported poor earnings and cut its full-year revenue forecast, as it continues to contend with supply-chain disruptions.
The company’s 8.75% 1L bonds due February 2026 dropped ~5 cents on the dollar to 81.5 cents as of 9:23 a.m. in New York, according to Trace bond trading data
Shares fell as much as 27% in premarket trading Monday, according to data compiled by Bloomberg
EARLIER: Party City Plunges After Cutting Full-Year Revenue Forecast
To contact the reporter on this story: Norah Mulinda in New York at nmulinda@bloomberg.net
