Five Point Holdings, LLC (NYSE:FPH) Q3 2023 Earnings Call Transcript

Kim Tobler: Yes. Given that math, yes. And it would add to what we are planning to do in the first quarter.

Kyle Chung: Right. Okay. So that’s really helpful. Thank you. And my second question is, congrats on renewing your revolver. And I think the 8-K on the credit agreement has been filed yet, but under the new revolver, do you have enough restricted payment capacity to, if you elect to do so, buy back the bonds, buy back the senior notes at a discount?

Dan Hedigan: Well, I mean, there isn’t enough capacity to buy back the senior notes at a discount. Again, the entire revolver is only $125 million. So…

Kyle Chung: What I mean is for you to like you know do a partial tender or just buy back you know bonds at a discounted open market. Do you have restricted payment capacity under the revolver for that or no?

Dan Hedigan: We don’t have a restriction that would not allow us to do that.

Kyle Chung: Okay, great. Great, thank you very much.

Operator: There are no further questions in the queue. I’d like to hand the call back to management for closing remarks.

Dan Hedigan: Thank you. On behalf of our management team, we thank you for joining us on today’s call. We look forward to speaking with you next quarter.

Operator: Ladies and gentlemen, this does conclude today’s teleconference. Thank you for your participation. You may disconnect your lines at this time, and have a wonderful day.