TD Ameritrade Clearing amends $850 million revolver, extends to 2021

By Wendy Van Sickle

Columbus, Ohio, April 24 – TD Ameritrade Holding Corp. wholly owned subsidiary TD Ameritrade Clearing, Inc. amended its credit agreement dated May 16, 2019 on Tuesday to extend the $850 million senior unsecured revolver to April 20, 2021, according to an 8-K filing with the Securities and Exchange Commission.

The facility is led by Wells Fargo Securities, LLC, Barclays Bank plc, Citibank, NA, JPMorgan Chase Bank, NA, U.S. Bank NA, TD Securities (USA) LLC and BofA Securities as joint bookrunners and joint lead arrangers and Wells Fargo Bank, NA as administrative agent.

Borrowings bear interest at Libor plus an applicable margin based on the company’s senior unsecured long-term debt ratings ranging from 100 basis points to 150 bps. The margin is currently 125 bps.

The commitment fee also varies based on the company’s ratings, ranging from 20 bps to 35 bps, and is currently 25 bps.

The credit agreement requires the company to maintain minimum consolidated tangible net worth and to comply with minimum regulatory net capital requirements.

TD Ameritrade is an Omaha-based securities brokerage firm.

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