LPL Investment plans to redeem all $550 million senior notes due 2015

By Devika Patel

Knoxville, Tenn., May 28 - LPL Investment Holdings Inc. will redeem all $550 million of its senior subordinated notes due 2015 at 105.375 plus interest to June 22, the redemption date, according to an 8-K filed Friday with the Securities and Exchange Commission.

Wells Fargo Bank, NA is the trustee.

The company will use the proceeds from a new term loan tranche and additional cash on hand to finance the redemption, which should cost approximately $610.4 million.

Boston's LPL Investment is the holding company for LPL Financial.

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