LPL Financial Holdings’ wholly owned subsidiary, LPL Holdings, has completed the repricing of its senior secured credit facilities under its existing credit agreement, reducing the spread on its senior secured term loan B to 225 basis points over LIBOR from a spread of 250 basis points over LIBOR and reducing the spread on its revolving credit facility to a range of 125 basis points to 175 basis points over LIBOR from a spread of 150 basis points to 200 basis points over LIBOR, depending on the secured net leverage ratio of LPL Holdings and its restricted subsidiaries.

The repricing of the senior secured credit facilities was managed by an arranger group of nine banks led by JPMorgan Chase Bank.

At the same time, LPL Holdings reduced the outstanding principal amount of its Senior Secured Term Loan B by $200 million to $1,500 million with proceeds from its previously announced $400 million add-on notes offering that was recently completed. The add-on notes carry a yield-to-worst of 5.115%. In addition, the tenor on both LPL Holdings’ senior secured term loan B and revolving credit facility were increased by 6 months to 7 years and 5 years, respectively, from the effective date of the repricing amendment.