Five Point: 99.74% of $625M 7.875% notes tendered for 10.5% notes due 2028

Five Point Holdings, LLC

$623.4M (99.74%) of outstanding 7.875% Senior Notes due 2025 validly tendered for exchange.
Minimum exchange condition (80%) and requisite consents (>50%) met; restrictive covenants eliminated.
Early participants receive per $1,000 face: ~$160 cash + ~$840 new 10.500% notes due 2028.
Settlement expected Jan 16, 2024; only ~$1.6M notes would remain outstanding after close.
Exchange extends maturity to 2028 at higher coupon but removes substantially all covenants.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.