Five Point Holdings expands revolving credit facility to $217.5 million

Five Point Holdings, LLC (NYSE:FPH) announced that on Tuesday its operating subsidiary, Five Point Operating Company, LP, entered into an amended and restated credit agreement with a group of lenders. According to a statement in a recent SEC filing, the new agreement increases the company’s senior unsecured revolving credit facility from $125 million to $217.5 million.

The amended agreement, reached with Zions Bancorporation, N.A. (doing business as California Bank & Trust) as administrative agent and lender, includes JPMorgan Chase Bank, N.A., CIBC Bank USA, Banc of California, and Comerica Bank as additional lenders. The facility also provides the ability to further increase commitments up to $300 million, subject to approval from the administrative agent and lenders.

The maturity date of the revolving credit facility has been extended from July 2027 to July 2029, with an option for a one-year extension if certain conditions are met and approvals are granted. This extension aligns with the company’s current total debt position of $600.75 million, which according to InvestingPro’s Fair Value analysis, appears to be well-managed given the company’s current market valuation.

Borrowings under the facility will bear interest at the CME Term SOFR 1-month rate plus a margin of either 2.25% or 2.50%, depending on the operating company’s leverage ratio. As of the date of the new agreement, there were no outstanding borrowings or letters of credit under the facility.

Five Point Holdings is a real estate company headquartered in Irvine, California. The information in this article is based on a press release statement included in the company’s recent SEC filing.

In other recent news, Five Point Holdings, LLC reported a net income of $8.6 million for the second quarter of 2025. Despite the positive earnings, the company faced challenges in the market environment, as discussed during its earnings call. Moody’s Ratings upgraded Five Point’s corporate family rating to B2 from B3, maintaining a stable outlook, and assigned the same B2 rating to the company’s proposed $450 million senior unsecured notes due 2030. Five Point also announced plans to offer these $450 million senior notes to refinance existing debt, with the new notes guaranteed by certain subsidiaries. Additionally, Five Point launched a tender offer to purchase its outstanding 10.500% Initial Rate Senior Notes due 2028, with the offer set to expire on September 19, 2025. The pricing terms for this tender offer were set at $1,008.57 per $1,000 principal amount of notes. These developments highlight Five Point’s ongoing financial strategies and adjustments in response to market conditions.

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