Party City’s Anagram Skips Interest Payment on Secured Notes

Anagram, Party City Holdco Inc.’s balloon manufacturing affiliate, skipped an interest payment on its first-lien notes and entered into a forbearance agreement with creditors, according to a regulatory filing.

• The company entered into a 30-day grace period on Aug. 15 for the 15% payment-in-kind or cash senior secured first-lien notes due 2025, according to the filing
• Its forbearance agreement is with a majority of the firm’s first-lien and second-lien noteholders, per filing
• Party City is considering splitting up from Anagram as the retailer makes its way through bankruptcy, Bloomberg previously reported

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