LPL refinances $1.02B Term Loan B into Term Loan A, saves ~$4M annual interest

LPL Financial Holdings Inc.

Refinanced $1,019M Term Loan B with $1,020M Term Loan A at SOFR+137.5 bps vs prior +175 bps.
Annual cash interest expense savings of approximately $4 million.
Term Loan A matures Dec 2026, has no required amortization; subsidiary guarantees and liens released.
New facility includes maximum leverage and minimum interest coverage covenants with equity cure rights.

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