Amscan to Refinance Senior Debt Facility; Not Pursuing Public Offering at This Time.Business Editors ELMSFORD, N.Y.--(BUSINESS WIRE)--Nov. 27, 2002 Amscan Holdings, Inc. announced today that it has signed commitment letters with Goldman Sachs The Goldman Sachs Group, Inc., or simply Goldman Sachs (NYSE: GS) is one of the world's largest global investment banks. Goldman Sachs was founded in 1869, and is headquartered in the Lower Manhattan area of New York City at 85 Broad Street. Credit Partners L.P., which will enable it to refinance Refinance 1. When a business or person revises their payment schedule for repaying debt. 2. Replacing an older loan with a new loan offering better terms. Notes: When a business refinances they typically extend the maturity date. and significantly extend the maturity of its senior debt facilities. Amscan had filed a registration statement with the Securities and Exchange Commission on June 13, 2002 relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc a proposed primary and secondary offering of shares of its common stock. The Company has decided not to pursue a public offering of shares of common stock at this time given valuations currently available in the equity markets. Commenting upon the decision, Michael A. Correale, the Company's Chief Financial Officer stated, "This refinancing will improve the maturity profile of our current capital structure while preserving our flexibility to pursue a public equity offering in due course." Amscan designs, manufactures and distributes decorative party goods, including paper and plastic tableware, accessories and novelties. Amscan also designs and distributes home, baby, wedding and other gift items. Any statements released by Amscan that are forward-looking are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Terms such as "intends," "anticipates," "expects," words of similar import and variations on such words are intended to identify forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . Investors are cautioned that forward-looking statements necessarily involve risks and uncertainties which are difficult to predict and actual outcomes may materially vary from what is expressed or forecasted in such forward-looking statements. |
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