(RTTNews) - Five Point Holdings, LLC (FPH), an owner and developer of mixed-use communities in coastal California, announced on Monday that its operating subsidiary, Five Point Operating Company, LP, and Five Point Capital Corp., a wholly owned subsidiary of the operating company, plan to offer $450 million of senior notes due 2030.
The company said proceeds, along with cash on hand, will be used to buy back its 10.500% senior notes due 2028 through a tender offer, redeem any remaining 2028 notes, and pay off its 7.875% senior notes due 2025.
The notes will be backed by certain subsidiaries that guarantee the company's credit facilities, but not by Five Point Holdings itself.
In the pre-market trading, Five Point is 2.18% lesser at $5.83 on the New York Stock Exchange.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
