Debt Information
| Type of Debt | Senior Secured Term Loan B | Senior Unsecured Notes | Senior Unsecured Notes | Senior Unsecured Notes | Revolving Credit Facility (b) | Broker-Dealer Revolving Credit Facility (c) | Total / Weighted-Average |
|---|---|---|---|---|---|---|---|
| Outstanding Principal ($M) | $1,033 | $400 | $900 | $400 | $287 | $ --- | $3,020 |
| Applicable Margin | SOFR+185bps(a) | 4.625% Fixed | 4.000% Fixed | 4.375% Fixed | ABR+25bps | SOFR+135bps | SOFR+135bps | |
| Interest Rate | 7.010% | 4.625% | 4.000% | 4.375% | 7.363% | 6.440% | 5.482% |
| Maturity | 11/12/2026 | 11/15/2027 | 3/15/2029 | 5/15/2031 | 3/15/2026 | 8/3/2023 | |
| Callable | Nov 15, 2022 @ 102.313 | Mar 15, 2024 @ 102.000 | May 15, 2026 @ 102.188 | ||||
| Nov 15, 2023 @ 101.156 | Mar 15, 2025 @ 101.000 | May 15, 2027 @ 101.094 | |||||
| Nov 15, 2024 @ 100.000 | Mar 15, 2026 @ 100.000 | May 15, 2028 @ 100.547 | |||||
| May 15, 2029 @ 100.000 | |||||||
| Agreements / Key Documents | Credit Agreement | Indenture | Indenture | Indenture | Credit Agreement |
| Term Loan B Rating | Bond Rating | Family Rating | Outlook | Last Updated | |
|---|---|---|---|---|---|
| Moody's | Baa3 | Baa3 | N/A | Stable | 11/14/2022 |
| S&P | BBB- | BBB- | BBB- | Stable | 04/05/2023 |
(a) The SOFR rate option is a one-month SOFR rate and subject to an interest rate floor of 0 bps. (b) The LIBOR rate option is one-month LIBOR rate and subject to an interest rate floor of 0 basis points.
(b)Secured borrowing capacity of $1 billion at LPL Holdings, Inc. (the "Parent"). The Parent’s outstanding balance at June 30, 2023 was comprised of an ABR-based balance of $128.0 million with the applicable margin of ABR + 25 bps (8.500%) and SOFR-based balance of $159.0 million with the applicable margin of SOFR + 135 bps (6.448%). On July 18, 2023, LPL Holdings, Inc. amended its revolving credit facility to increase the maximum borrowing from $1.0 billion to $2.0 billion.
(c) On July 18, 2023, LPL Financial LLC renewed its revolving credit facility and extended the maturity date to July 16, 2024.
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 borrowings, including in the "Long-term and other borrowings" 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.