debt
confidence high
sentiment neutral
materiality 0.65
Five Point launches $450M senior notes offering and cash tender offer for $523.5M 2028 notes
Five Point Holdings, LLC
- $450M aggregate principal of senior notes due 2030 offered by Five Point Operating Company, LP and Five Point Capital Corp.
- Concurrent cash tender offer for any and all outstanding $523.5M of 10.500% Initial Rate Senior Notes due 2028.
- Proceeds plus cash on hand to fund purchase of tendered 2028 notes and redeem 7.875% Senior Notes due 2025.
- Tender offer expires Sept 19, 2025; purchase price based on fixed spread over 4.500% UST due 11/15/2025.
- Notes not registered under Securities Act; offered to QIBs and in offshore transactions.
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