Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers L > Headlines for LPL Holdings, Inc. > News item |
LPL Holdings shops $1.7 billion term loan B at Libor plus 275-300 bps
By Sara Rosenberg
New York, March 2 – LPL Holdings Inc. is talking its $1.7 billion term loan B due 2024 at Libor plus 275 basis points to 300 bps with a 0% Libor floor and an original issue discount of 99.5, according to a market source.
The term loan B has 101 soft call protection for six months, the source said.
The company’s $2.2 billion credit facility (Ba2/BB-) also includes a $500 million revolver.
J.P. Morgan Securities LLC is the left lead on the deal.
Commitments are due on Tuesday, the source added.
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.
LPL Holdings is a Boston-based investment company.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.