Five Point Holdings, LLC announced a proposed offering of $450.0 million aggregate principal amount of senior notes due 2030.
The notes will be guaranteed by the issuer's existing and future subsidiaries but not by Five Point.
Proceeds will be used to purchase and redeem existing notes.
Proposed Offering
Five Point intends to offer $450.0 million of senior notes due 2030.
Use of Proceeds
The proceeds will be used to purchase, redeem, and discharge existing notes.
Guarantees
The notes will be guaranteed by the issuer's subsidiaries, not by Five Point.
- The proposed offering aims to refinance existing debt obligations effectively.
- The guarantees by the issuer's subsidiaries enhance the creditworthiness of the notes.
Five Point's announcement of the proposed offering demonstrates a strategic financial move to manage its debt profile and optimize its capital structure.