The new senior bank facilities include a £180m term loan facility and a £20m revolving facility, both with a five-year matu- rity.
Wakefield-based Card Factory said the refinancing will result in a significant reduction in its interest payments.
Card Factory’s shares tumbled after initial trading, reflecting caution from the market after a series of IPOs this year.
The initial public offering, which was at the lower end of price guidance, raised £90m for the company and more than £200m for the selling shareholders.
Card Factory’s chief executive Richard Hayes said: “The fundamentals of this business are very strong.
“I have no doubt that if we keep delivering as we have over the last 10 years that will be reflected in the share price.”
He said the management team is focused on expanding the business by rolling out new stores and developing the retail proposition.
The management team has retained a stake in the business, holding 19.2 per cent of ordinary shares, as has private equity backer Charterhouse, which holds 41.3 per cent.
Mr Hayes added: “We are committed to it through that share allocation.”
Card Factory has been one of corporate Yorkshire’s stand-out performers in recent years and took the decision to join other retailers in seeking to tap public markets as consumer confidence improves.