LPL Financial Holdings Inc. (NASDAQ:LPLA) Files An 8-K Regulation FD DisclosureItem 7.01
On September7, 2017, LPL Financial Holdings Inc. issued a press release announcing that its wholly owned subsidiary, LPL Holdings, Inc. (“LPL Holdings”), intends to reprice its existing $500million senior secured revolving credit facility and approximately $1,700million term loan B, and raise $400million in gross proceeds as an add-on to the existing senior notes due 2025. LPL Holdings intends to use the net proceeds from the offering of the notes for general corporate purposes, including to pay down $200million of its term loan B, to fund a contingent payment (if any such amount becomes payable) in connection with the previously announced acquisition of certain assets and rights from National Planning Holdings, Inc. and its four broker-dealer subsidiaries, and to pay fees and expenses related to the offering of the notes. After giving effect to these transactions, LPL Holdings’ aggregate indebtedness as of June30, 2017 would have increased by $200million to approximately $2,400million. 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.
| Item 7.01 | Financial Statements and Exhibits. |
LPL Financial Holdings Inc. ExhibitEX-99.1 2 d454407dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 Investor Relations – Chris Koegel,…To view the full exhibit click here
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.