LPL Holdings plans $1.7 billion term B, upsized $500 million revolver

By Sara Rosenberg

New York, Feb. 24 – LPL Holdings Inc. plans on getting a new $1.7 billion term loan B due in 2024 and increasing the size of its revolving credit facility to $500 million, according to a news release.

Proceeds will be used to help refinance existing bank debt.

Other funds for the refinancing will come from $500 million in senior notes due 2025 that launch with a New York lunch on Tuesday and a Boston lunch on Wednesday, a market source said.

Pricing of the bonds is expected to occur late during the week of Feb. 27.

Morgan Stanley Senior Funding Inc., J.P. Morgan Securities LLC, Goldman Sachs Bank USA, Wells Fargo Securities LLC, Bank of America Merrill Lynch, Citigroup Global Markets Inc., Citizens Bank, Credit Suisse Securities (USA) LLC and SunTrust Robinson Humphrey Inc. are the joint bookrunners on the bonds.

LPL Holdings is a Boston-based investment company.

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