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Party City Bonds Tumble After Retailer Cuts Revenue Forecast

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

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