| Long-term and Other Borrowings |
The Company’s outstanding corporate debt and other borrowings, net were as follows (in thousands):
| | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2025 | December 31, 2024 | | | Corporate Debt | Balance | Applicable Margin | Interest Rate | Balance | Applicable Margin | Interest rate | Maturity | Term Loan A(1) | $ | 1,020,000 | | SOFR+147.5 bps | 5.791 | % | $ | 1,020,000 | | SOFR+147.5 bps | 6.000 | % | 12/5/2026 | 2027 Senior Notes(1) | 500,000 | | Fixed Rate | 5.700 | % | 500,000 | | Fixed Rate | 5.700 | % | 5/20/2027 | 2027 Senior Notes(1) | 400,000 | | Fixed Rate | 4.625 | % | 400,000 | | Fixed Rate | 4.625 | % | 11/15/2027 | 2028 Senior Notes(1) | 500,000 | | Fixed Rate | 4.900 | % | — | | — | | — | % | 4/3/2028 | 2028 Senior Notes(1) | 750,000 | | Fixed Rate | 6.750 | % | 750,000 | | Fixed Rate | 6.750 | % | 11/17/2028 | 2029 Senior Notes(1) | 900,000 | | Fixed Rate | 4.000 | % | 900,000 | | Fixed Rate | 4.000 | % | 3/15/2029 | 2030 Senior Notes(1) | 750,000 | | Fixed Rate | 5.200 | % | — | | — | | — | % | 3/15/2030 | 2030 Senior Notes(1) | 500,000 | | Fixed Rate | 5.150 | % | — | | — | | — | % | 6/15/2030 | 2031 Senior Notes(1) | 400,000 | | Fixed Rate | 4.375 | % | 400,000 | | Fixed Rate | 4.375 | % | 5/15/2031 | 2034 Senior Notes(1) | 500,000 | | Fixed Rate | 6.000 | % | 500,000 | | Fixed Rate | 6.000 | % | 5/20/2034 | 2035 Senior Notes(1) | 500,000 | | Fixed Rate | 5.650 | % | — | | — | | — | % | 3/15/2035 | 2035 Senior Notes(1) | 500,000 | | Fixed Rate | 5.750 | % | — | | — | | — | % | 6/15/2035 | | Total Corporate Debt | 7,220,000 | | | | 4,470,000 | | | | | | | | | | | | | | Less: Unamortized Debt Issuance Cost | (44,968) | | | | (22,276) | | | | | | Corporate debt, net | $ | 7,175,032 | | | | $ | 4,447,724 | | | | | | Other Borrowings | | | | | | | | Revolving Credit Facility | — | | ABR+37.5 bps / SOFR+147.5 bps | 5.797 | % | 1,047,000 | | ABR+37.5 bps / SOFR+147.5 bps | 6.007 | % | 5/20/2029 | | | | | | | | | | | | | | | | | | Total other borrowings | $ | — | | | | $ | 1,047,000 | | | | | | Corporate Debt and Other Borrowings, Net | $ | 7,175,032 | | | | $ | 5,494,724 | | | | |
_______________________________ (1)No leverage or interest coverage maintenance covenants.
The following table presents amounts outstanding and available under the Company’s external lines of credit at June 30, 2025 (in millions): | | | | | | | | | | | | | | | | Description | Borrower | Maturity Date | Outstanding | Available | Senior unsecured, revolving credit facility | LPL Holdings, Inc. | May 2029 | $ | — | | $ | 2,250 | | | Broker-dealer revolving credit facility | LPL Financial LLC | May 2026 | $ | — | | $ | 1,000 | | | Unsecured, uncommitted lines of credit | LPL Financial LLC | None | $ | — | | $ | 75 | | | Unsecured, uncommitted lines of credit | LPL Financial LLC | September 2025 | $ | — | | $ | 50 | | | Secured, uncommitted lines of credit | LPL Financial LLC | March 2028 | $ | — | | $ | 75 | | | Secured, uncommitted lines of credit | LPL Financial LLC | None | $ | — | | unspecified | | Secured, uncommitted lines of credit | LPL Financial LLC | None | $ | — | | unspecified |
|