LPL Financial Holdings Inc. (NASDAQ:LPLA) Files An 8-K Regulation FD Disclosure
Item7.01
| Regulation FD Disclosure. |
On February24, 2017, LPL Financial Holdings Inc. issued a press
release announcing that its wholly owned subsidiary, LPL
Holdings, Inc. (LPL Holdings), plans to refinance its existing
capital structure in a leverage-neutral transaction. LPL Holdings
intends to amend the credit agreement governing its senior
secured credit facilities, to which it expects to borrow a new
term B loan in an original aggregate principal amount of
$1,700million, increase the size of its revolving credit facility
to $500million, raise $500million in gross proceeds through an
offering of senior notes, and make certain other changes. LPL
Holdings intends to use the net proceeds from the offering of the
notes and the new term B loan to repay LPL Holdings existing
senior secured credit facilities and to pay accrued interest and
related fees and expenses, with any excess net proceeds available
for general corporate purposes. 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.
| Item9.01 | Financial Statements and Exhibits. |
| (d) | Exhibits |
| 99.1 |
Press Release dated February24, 2017 (LPL Financial Announces Proposed Leverage-Neutral Debt Refinancing) |
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 down -0.64 at 39.13 with 581,562 shares trading hands.
