|Type of Debt||Revolving Credit Facility Loans (a),(b)||Senior Secured Term Loan B (b)||Senior Unsecured Notes (d),(e)||Total / Weighted-Average|
|Outstanding Principal ($M)||$0||$1,496||$900||$2,396|
|Applicable Margin||LIBOR+150bps||LIBOR+225bps||5.75% Fixed|
|Callable||9/21/2017 @ 101||Mar 15, 2020 @ 104.313|
|3/21/2018 @ 100||Mar 15, 2021 @ 102.875|
|Mar 15, 2022 @ 101.438|
|Mar 15, 2023 @ 100.00|
|Agreements / Key Documents||Credit Agreement||Credit Agreement||Indenture|
|Term Loan B Rating(c)||Bond Rating||Outlook||Last Updated|
(a) The Revolving Credit Facility has a borrowing capacity of $500 million. Loans, if any, will bear interest at a floating rate, which in the case of LIBOR loans will be LIBOR plus 125-175 basis points per annum, depending on the secured net leverage ratio of LPL Holdings, Inc. and its restricted subsidiaries.
(b) Loans that bear interest based on LIBOR have rate options of one-, two-, three- or six-month LIBOR rate, as selected by LPL Holdings, Inc., or, with the approval of the applicable lenders, twelve month LIBOR rate or the LIBOR rate for another period acceptable to the Administrative Agent (including a shorter period). The LIBOR rate is subject to an interest rate floor of 0 basis points.
(c) This rating also applies to LPL’s Revolving Credit Facility.
(d) The Senior Unsecured Notes were issued in two separate transactions; $500 million in notes were issued in March 2017 at par; the remaining $400 million were issued in September 2017 and priced at 103% of the aggregate principal amount.
(e) Outstanding principal does not include unamortized premium of approximately $12 million on the Senior Unsecured Notes issued in September 2017.
Information on this webpage is intended only as an informational summary and is qualified in its entirety by the Company's disclosure in its annual report on Form 10-K and subsequent filings with the Securities and Exchange Commission ("SEC") regarding its corporate debt, including in the "Debt" footnote to the Company's consolidated financial statements, as well as by the agreements governing the Company's credit facilities. The Company generally updates this page quarterly, or with greater frequency as determined in its discretion.