Five Point talks $400 million eight-year notes to yield 7¾%-8%; books close Friday afternoon

By Paul A. Harris

Portland, Ore., Nov. 17 – Five Point Operating Co., LP talked its $400 million offering of eight-year senior notes (B3) to yield 7¾% to 8%, according to a market source.

Books close at 2 p.m. ET on Friday, and the Rule 144A and Regulation S offering is set to price thereafter.

Citigroup Global Markets Inc. is leading the deal.

The notes come with three years of call protection.

The Aliso Viejo, Calif.-based planner and developer of mixed-use, master-planned communities plans to use the proceeds for general corporate purposes, which may include funding development of its communities.

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