Shearman And Sterling

News March 15, 2021

LPL Holdings’ $900 Million Senior Notes Offering

Shearman & Sterling advised J.P. Morgan as representative of the initial purchasers in connection with a Rule 144A/Regulation S offering by LPL Holdings, Inc. (the “Company”) of $900 million aggregate principal amount of 4% Senior Notes due 2029. The Senior Notes are guaranteed by certain subsidiaries of the Company.

The Company intends to use the net proceeds from this offering, together with cash available for corporate use, to redeem its existing $900 million of senior unsecured notes due 2025 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 Shearman & Sterling team below included associate Stella Sun (New York-Capital Markets).

The Team