Paychex increases revolving credit facility to $750M, extends maturity to 2026

PAYCHEX INC

2017 credit facility increased from $500M to $750M; maturity extended from Aug 2022 to Sep 2026.
Borrower may request two additional one-year extensions beyond 2026, subject to lender consent.
Interest rate provisions amended to address LIBOR phase-out; CBR/RFR spread added.
ESG pricing incentives may be added if environmental, social, governance targets are agreed by Sep 2023.
2019 $1.0B credit facility also amended for LIBOR transition and potential ESG pricing, but size unchanged.

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