LPL Holdings to launch $2.2 billion credit facility on Tuesday

By Sara Rosenberg

New York, Feb. 27 – LPL Holdings Inc. will hold a lender call on Tuesday to launch its proposed $2.2 billion credit facility (Ba2), according to a market source.

J.P. Morgan Securities LLC is the left lead on the deal.

The facility consists of a $1.7 billion term loan B due 2024 and a $500 million revolver.

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 are expected to price late this week.

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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