Shearman And Sterling

News November 15, 2019

LPL Holdings, Inc.’s Senior Notes Issuance

Shearman & Sterling advised Morgan Stanley and J.P. Morgan as representatives of the initial purchasers in connection with a Rule 144A/Regulation S offering by LPL Holdings, Inc. of $400 million aggregate principal amount of 4.625 percent senior notes due 2027. The senior notes are guaranteed by certain subsidiaries of the company.

The company used the net proceeds from this offering, together with cash available for corporate use, to pay down a portion of the Term Loan B and to pay fees and expenses related to this offering. 

The company is the direct, wholly-owned subsidiary of LPL Financial Holdings, Inc. (LPL). LPL is a leader in the retail financial advice market and the nation’s largest independent broker-dealer. It serves independent financial advisors and financial institutions, providing them with the technology, research, clearing and compliance services, and practice management programs they need to create and grow thriving practices. LPL enables them to provide objective guidance to millions of American families seeking wealth management, retirement planning, financial planning and asset management solutions.

The Team