LPL Financial Holdings Inc. (NASDAQ:LPLA) Files An 8-K Regulation FD Disclosure
Item7.01
| Regulation FD Disclosure. |
On March3, 2017, LPL Financial Holdings Inc. issued a press
release announcing the pricing of senior notes being issued by
its wholly owned subsidiary, LPL Holdings, Inc. (LPL Holdings). A
copy of the press release is attached as Exhibit 99.1 to this
Current Report on Form 8-K.
Exhibit 99.1 shall not be deemed filed for purposes of Section18
of the Securities Exchange Act of 1934, as amended (the Exchange
Act), or otherwise subject to the liabilities under that Section
and shall not be deemed to be incorporated by reference into any
filing of the Company under the Securities Act of 1933, as
amended, or the Exchange Act.
| Item8.01 | Other Events. |
On March3, 2017, LPL Holdings and certain of its subsidiaries
entered into a purchase agreement with the representatives of the
initial purchasers named therein, relating to the senior notes
offering. to the purchase agreement, LPL Holdings will issue and
sell $500 million in aggregate principal amount of senior notes
due 2025 bearing interest at a rate of 5.750%. The consummation
of the notes offering is subject to customary conditions.
The notes offering is being conducted as part of a
leverage-neutral refinancing of LPL Holdings capital structure.
LPL Holdings intends to use the net proceeds from the offering of
the notes, together with a new term B loan and cash from its
balance sheet, to repay LPL Holdings existing senior secured
credit facilities and to pay accrued interest and related fees
and expenses.
| Item9.01 | Financial Statements and Exhibits. |
| (d) | Exhibits |
| 99.1 |
Press Release dated March3, 2017 (LPL Financial Announces Pricing of Offering of Senior Notes) |
About LPL Financial Holdings Inc. (NASDAQ:LPLA)
LPL Financial Holdings Inc. is a broker-dealer, a custodian for registered investment advisors (RIAs) and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors (its advisors), including financial advisors at approximately 700 financial institutions across the country. Through its advisors, the Company is a distributor of financial products and services in the United States. The Company provides its technology and service to advisors through a technology platform that is server-based and Web-accessible. The Company’s platform provides access to approximately 790 product providers that offer the various product lines, such as insurance-based products, alternative investments, structured products, mutual funds, separately managed accounts, exchange traded products, unit investment trusts, retirement plan products and annuities. LPL Financial Holdings Inc. (NASDAQ:LPLA) Recent Trading Information
LPL Financial Holdings Inc. (NASDAQ:LPLA) closed its last trading session up +0.60 at 40.11 with 750,263 shares trading hands.
