Five Point Holdings' operating partnership and its unit priced an additional $50 million of their 7.875% senior notes due 2025, which will be issued at par plus applicable interest from Nov. 22.
The new notes add to the recent issuance of the issuers' existing 7.875% senior notes due 2025 worth a total of $450 million.
The issuance of the new notes is anticipated to close on or about Nov. 30.
Proceeds from the issuance of both the new and existing notes will be used for general corporate purposes, including development activities at the operating partnership's communities.
