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FORM 3
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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange Act of
1934, Section 17(a) of the Public Utility Holding Company Act
of 1935 or Section 30(f) of the Investment Company Act of 1940
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<S> <C> <C> <C>
1. Name and Address of Reporting Person 2. Date of Event 4. Issuer Name and Ticket
Requiring Statement or Trading Symbol
(Month/Day/Year)
Party City Corporation (PCTY)
Tennenbaum, Michael 10/5/00
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(Last) (First) (Middle) 3. IRS or Social Security 5. Relationship of Reporting 6. If Amendment,
Number of Reporting Person to Issuer Date of Original
Person (Voluntary) (Check all applicable) (Month/Day/Year)
[X] Director [X] 10% Owner
[ ] Officer [ ] Other (specify
(title below) below)
c/o Tennenbaum & Co., LLC -----------------------------------
11100 Santa Monica Blvd., Suite 210 7. Individual or Joint/Group Filing
-------------------------------------- (Check Applicable Line)
(Street) _X_ Form filed by One Reporting Person
___ Form filed by More than One
Los Angeles California 90025 Reporting Person
-------------------------------------------------------------------- -------------------------------------------------------------
(City) (State) (Zip)
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Table I -- Non-Derivative Securities Beneficially Owned
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<S> <C> <C> <C>
1.Title of Security 2. Amount of Securities 3. Ownership Form: 4. Nature of Indirect Beneficial
(Instr. 4) Beneficially Owned Direct (D) or Ownership (Instr. 5)
(Instr. 4) Indirect (I)
(Instr. 5)
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Common Stock, par value $0.01 3,096,000(1) I(1) (1)
per share(1)
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (Over)
* If the form is filed by more than one reporting person, see Instruction 5(b)(v). SEC 1473 (7-96)
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FORM 3 (continued)
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Table II -- Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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<S> <C> <C> <C> <C> <C>
1. Title of Derivative 2. Date Exercisable 3. Title and Amount of 4. Conversion 5. Ownership 6. Nature of
(Instr. 4) and Expiration Date Securities Underlying or Exercise Form of Indirect
(Month/Day/Year) Derivative Security of Price of Derivative Beneficial
(Instr. 4) Derivative Security: Ownership
Security Direct (D) (Instr.5)
or Indirect (I)
(Instr. 5)
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Date Expiration Title Amount or
Exercisable Date Number of
Shares
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Explanation of Responses:
(1) The reporting person is the Managing Member of Tennenbaum & Co., which is the Managing Member of SVIM/MSM, LLC, the Managing
Member of Special Value Bond Fund, LLC ("Special Value Bond Fund"). Special Value Bond Fund beneficially owns 3,096,000 shares
subject to outstanding warrants to purchase Party City Corporation common stock which are exercisable within the next 60 days.
Accordingly, through his affiliation with Special Value Bond Fund, the reporting person may be deemed to beneficially own 3,096,000
shares of Party City Corporation common stock. The reporting person disclaims beneficial ownership of these securities except to
the extent of his pecuniary interest therein.
By: /s/ Michael Tennenbaum October 16, 2000
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**Signature of Reporting Person Date
**Intentional misstatements or omissions of facts constitute Federal Criminal Violations.
See 18 U.S.C. and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space provided is insufficient,
See Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained in this form are not
required to respond unless the form displays a currently valid OMB Number. Page 2
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