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BRIEF-LPL Financial announces proposed leverage-neutral debt refinancing
February 24, 2017 / 9:11 PM / 8 months ago

BRIEF-LPL Financial announces proposed leverage-neutral debt refinancing

Feb 24 (Reuters) - LPL Financial Holdings Inc:

* LPL Financial announces proposed leverage-neutral debt refinancing

* Co’s unit plans to refinance its existing capital structure in a leverage-neutral transaction

* LPL Financial Holdings Inc - LPL Holdings also intends to raise $500 million in gross proceeds through an offering of senior notes due 2025

* LPL Financial Holdings Inc - LPL Holdings also intends to raise $500 million in gross proceeds through an offering of senior notes due 2025

* LPL Financial Holdings - LPL Holdings intends to use net proceeds from offering of notes and new term b loan to repay existing senior secured credit facilities

* LPL Financial Holdings Inc - intends to enter into an amendment to credit agreement governing its senior secured credit facilities

* LPL Financial Holdings - pursuant to amendment expects to borrow a new term b loan due 2024 in an original aggregate principal amount of $1,700 million Source text for Eikon: Further company coverage:

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