Five Point extends $125M revolving credit facility maturity to April 2026

Five Point Holdings, LLC

Maturity extended from April 2024 to April 2026; springing earlier to July 2025 if most senior notes not refinanced.
Interest rate: CME Term SOFR 1 month +0.10% plus margin of 2.25%-2.50% based on leverage ratio.
Modification fee of $625,000 (0.50% of $125M commitment) paid to lenders.
No borrowings or letters of credit outstanding as of October 19, 2023 amendment date.
One optional one-year extension available subject to administrative agent and lender approval.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Five Point Holdings, LLC amended Fifth Amendment to Credit Agreement with Zions Bancorporation, N.A. dba California Bank & Trust, as administrative agent and as a lender, and Comerica Bank, JPMorgan Chase Bank, N.A. and Citibank, N.A., as lenders valued at $125 million senior unsecured revolving credit facility (effective 2023-10-19).

Action: amendment
Agreement: credit facility
Counterparty: Zions Bancorporation, N.A. dba California Bank & Trust, as administrative agent and as a lender, and Comerica Bank, JPMorgan Chase Bank, N.A. and Citibank, N.A., as lenders
Value: $125 million senior unsecured revolving credit facility
Effective: 2023-10-19

Exact text from the filing

On October 19, 2023, Five Point Operating Company, LP (the “ Operating Company ”), through which Five Point Holdings, LLC (the “ Company ”) owns all of its assets and conducts all of its operations, entered into a Fifth Amendment to Credit Agreement (the “ Fifth Amendment ”), with Zions Bancorporation, N.A. dba California Bank & Trust, as administrative agent and as a lender, and Comerica Bank, JPMorgan Chase Bank, N.A. and Citibank, N.A., as lenders.

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Five Point Holdings, LLC filing history →

Source: SEC EDGAR

accession 0001193125-23-259537

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