secwatch.observer — SEC 8-K summary
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Issuer:     AUTOMATIC DATA PROCESSING INC (ADP)
CIK:        0000008670
Form:       8-K
Filed at:   2022-06-08T23:59:59+00:00
Accession:  0000950103-22-010274
Event type: debt
Sentiment:  neutral
Materiality: 0.40
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ADP amends 364-day credit agreement, extending termination date to July 1, 2022
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- Extension of termination date for consenting lenders to July 1, 2022 under existing $3.75B 364-day facility; no change in commitment amount.
- Amends interest rate benchmarks from LIBOR to SOFR-based rates (Adjusted Daily Simple SOFR and Adjusted Term SOFR Rate).
- Amendment executed on June 7, 2022 with lenders including JPMorgan, Bank of America, BNP Paribas, Wells Fargo, and others.
- Proceeds for general corporate purposes, including refinancing of existing indebtedness.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/8670/000095010322010274/0000950103-22-010274-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/8670/000095010322010274/dp174897_8k.htm
  HTML page:      https://secwatch.observer/filing/0000950103-22-010274

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