Five Point Announces Proposed Offering by Five Point Operating Company, LP of an Additional $100 Million of 7.875% Senior Not...
July 23 2019 - 8:17AM
Business Wire
Five Point Holdings, LLC (“Five Point”) (NYSE: FPH) today
announced that Five Point Operating Company, LP, through which Five
Point owns all of its assets and conducts all of its operations
(the “issuer”), and Five Point Capital Corp., a wholly owned
subsidiary of the issuer (the “co-issuer” and together with the
issuer, the “issuers”), plan to offer, subject to market and other
conditions, an additional $100 million aggregate principal amount
of their 7.875% Senior Notes due 2025 (the “new notes”). The new
notes will constitute a further issuance of the issuers’ existing
7.875% Senior Notes due 2025 issued in November 2017 in an
aggregate principal amount of $500 million.
The issuer intends to use proceeds of the new notes for general
corporate purposes, which may include pursuing commercial
investment opportunities at its communities.
The new notes and related guarantees have not been, and will not
be, registered under the Securities Act of 1933, as amended (the
“Securities Act”), or the securities laws of any other
jurisdiction. The new notes may not be offered or sold within the
United States or to U.S. persons, except to persons reasonably
believed to be qualified institutional buyers in reliance on the
exemption from registration provided by Rule 144A and to certain
persons in offshore transactions in reliance on Regulation S.
This press release shall not constitute an offer to sell, or a
solicitation of an offer to buy, any securities and shall not
constitute an offer to sell or a solicitation of an offer to buy,
or a sale of any securities, in any jurisdiction in which such
offer, solicitation or sale is unlawful.
Forward-Looking Statements
This press release includes forward-looking statements,
including statements about the proposed offering of the new notes,
including the anticipated use of proceeds therefrom, that are
subject to risks and uncertainties. These statements concern
expectations, beliefs, projections, plans and strategies,
anticipated events or trends and similar expressions concerning
matters that are not historical facts. When used, the words
“anticipate,” “believe,” “expect,” “intend,” “may,” “might,”
“plan,” “estimate,” “project,” “should,” “will,” “would,” “result”
and similar expressions that do not relate solely to historical
matters are intended to identify forward-looking statements. We
caution you that any forward-looking statements included in this
press release are based on our current views and information
currently available to us. Forward-looking statements are subject
to risks, trends, uncertainties and factors that are beyond our
control. Some of these risks and uncertainties are described in
more detail in our filings with the Securities and Exchange
Commission, including our most recent Annual Report on Form 10-K,
under the heading “Risk Factors.” Should one or more of these risks
or uncertainties materialize, or should underlying assumptions
prove incorrect, actual results may vary materially from those
anticipated, estimated or projected. We caution you therefore
against relying on any of these forward-looking statements. While
forward-looking statements reflect our good faith beliefs, they are
not guarantees of future performance. They are based on estimates
and assumptions only as of the date hereof. We undertake no
obligation to update or revise any forward-looking statement to
reflect changes in underlying assumptions or factors, new
information, data or methods, future events or other changes,
except as required by applicable law.
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version on businesswire.com: https://www.businesswire.com/news/home/20190723005533/en/
Investor Relations: Bob Wetenhall, 949-349-1087
bob.wetenhall@fivepoint.com or Media: Steve Churm, 949-349-1034
steve.churm@fivepoint.com
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