Simpson Thacher represented JPMorgan Chase Bank (JPM), as administrative agent and lender under a pre-petition ABL facility in connection with the bankruptcy cases of Party City Holdco and its affiliated debtors and as administrative agent and lead arranger of Party City’s exit ABL facility. Party City’s chapter 11 restructuring went effective and the exit facility closed on Oct. 12, after the Bankruptcy Court confirmed the company’s plan of reorganization at the Sept. 6, 2023 confirmation hearing.
JPM led and arranged the $562 million exit facility comprised of a $545 million revolver tranche and $17 million FILO term tranche.
