LPL Holdings firms $1.5 billion term loan at Libor plus 225 bps

By Sara Rosenberg

New York, Sept. 15 – LPL Holdings Inc. set pricing on its $1,495,000,000 term loan due September 2024 at Libor plus 225 basis points, the high end of the Libor plus 200 bps to 225 bps talk, according to a market source.

Also, the issue price on the term loan widened to 99.75 from par, the source said.

The term loan still has a 0% Libor floor.

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

Proceeds will be used to help refinance an existing roughly $1.7 billion term loan B due March 2024 priced at Libor plus 250 bps with a 0% Libor floor.

LPL is a Boston-based investment company.

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