LPL Holdings has completed the amendment of its revolving credit facility. The credit agreement amendment was managed by an arranger group of 14 banks led by JPMorgan Chase.
As a result of the credit agreement amendment, LPL Holdings increased the size of its revolving credit facility from $750 million to $1.0 billion and extended the maturity date of the revolving credit facility from 2024 to 2026.
LPL Holdings used the net proceeds from the senior notes offering, together with cash available for corporate use, to redeem its existing $900 million of senior unsecured notes due 2025 (the “2025 notes”) and to pay fees and expenses related to the senior notes offering and the credit agreement amendment.
