secwatch.observer — SEC 8-K summary
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Issuer:     Five Point Holdings, LLC (FPH)
CIK:        0001574197
Form:       8-K
Filed at:   2024-01-16T23:59:59+00:00
Accession:  0001193125-24-008643
Event type: debt
Sentiment:  negative
Materiality: 0.70
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Five Point exchanges 99.76% of 7.875% notes due 2025 for new 10.5%-12% notes due 2028
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- Exchanged $623.5M of $625M outstanding 7.875% senior notes due 2025 for $523.5M in new 10.5%-12% notes plus $100M cash.
- New notes mature Jan 2028 with step-up interest: 10.5% to Nov 2025, 11% to Nov 2026, then 12% to maturity.
- New notes are senior unsecured, rank equally with the Revolving Credit Facility and remaining Existing Notes.
- Issuers can redeem new notes at 104% (on/before Nov 2024), 102% (Nov 2024-Nov 2025), 100% (thereafter).
- Change-of-control repurchase at 101% of principal plus accrued interest.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1574197/000119312524008643/0001193125-24-008643-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1574197/000119312524008643/d728537d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-008643

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