Back-shift of first conditional?

Hi. Would you say the following sentence is the back-shift of a first-conditional sentence and the first conditional sentence for it, "I think if he have time, he will have spent it with his friends"?

Or is it a wrong sentence and should be "I think if had had time, he would have spent it with his frends"?

(A and B talking)

A: I found it surprising that he left town without seeing his friends. I know he was in town.

B: Yes, I understand, but I think if he did have time, he would have spent it with his friends. But I believe he had to take care of very important matters and couldn't spare a little time to meet with his friends.