Five Point Operating Company Prices $450 Mln In 8.000% Senior Notes Due 2030

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(RTTNews) - Five Point Holdings LLC (FPH) announced that Five Point Operating Company, LP or the "issuer", through which it owns all assets and conducts operations, and Five Point Capital Corp., a wholly owned subsidiary of the issuer or the "co-issuer", have priced $450 million aggregate principal amount of 8.000% senior notes due 2030.

The new notes will be issued at par. The notes will be guaranteed, jointly and severally, by each of the issuer's existing and future direct and indirect domestic subsidiaries that guarantees its obligations under the issuer's senior unsecured revolving credit facility or any other syndicated loan facility or capital markets indebtedness, subject to certain exceptions. The notes will not be guaranteed by Five Point.

The issuance of the notes is expected to close on or about September 25, 2025. The issuer intends to use proceeds of the proposed offering, together with cash on hand, to purchase its 10.500% Initial Rate Senior Notes due 2028 validly tendered and not validly withdrawn pursuant to the issuer's concurrent cash tender offer for any and all 2028 Notes, redeem or discharge all of the 2028 Notes not purchased in the Tender Offer and redeem in full its 7.875% Senior Notes due 2025.