New Issue: Amscan sells $175 million 10-year notes to yield 8¾%

By Paul A. Harris

St. Louis, April 27 - Amscan Holdings Inc. sold $175 million of 10-year senior subordinated notes (B3/B-) Tuesday at par to yield 8¾%, a market source said.

Price talk was 8¾% to 9%.

Goldman Sachs & Co. had the physical books on the Rule 144A/Regulation S issue. Credit Suisse First Boston was the joint bookrunner.

Proceeds will be used to help fund the acquisition of Amscan by Berkshire Partners and Weston Presidio from GS Capital Partners, including the tender for its $110 million 9 7/8% senior subordinated notes.

The issuer is an Elmsford, N.Y., manufacturer and distributor of decorative party goods.

Issuer:	Amscan Holdings Inc.
Amount:	$175 million
Maturity:	May 1, 2014
Security description:	Senior subordinated notes
Bookrunners:	Goldman Sachs (physical books), Credit Suisse First Boston (joint bookrunner)
Coupon:	8¾%
Price:	Par
Yield:	8¾%
Spread:	431 basis points
Call features:	Callable after May 1, 2009 at 104.375, 102.917, 101.458, par on or after May 1, 2012
Equity clawback:	Until May 1, 2007 for 35% at 108.75
Pricing date:	April 27
Settlement date:	April 30
Ratings:	Moody's: B3
	Standard & Poor's: B-
Price talk:	8¾%-9%

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