Robert Heimowitz's questions to Five Point Holdings LLC (FPH) leadership • Q4 2024
Question
Robert Heimowitz inquired about the company's strategy for its senior notes, which have an upcoming coupon step-up, asking if a refinancing is being considered versus simply paying down the balance. He also asked if Five Point intends to contribute its own capital to new growth ventures to show sponsor alignment.
Answer
CFO Kim Tobler responded that the company is actively evaluating a potential refinancing of the notes, contingent on favorable market conditions, but believes it is prudent to pay down the debt regardless. COO and Chief Legal Officer Michael Alvarado added that for new growth ventures, Five Point would expect to contribute some equity, though likely a smaller percentage than its 37.5% stake in the Great Park Venture.