---
schema_version: "secwatch.filing_event.v1"
accession: "0000950142-23-001907"
form_type: "8-K"
ticker: "ADP"
cik: "0000008670"
company_name: "AUTOMATIC DATA PROCESSING INC"
filed_at: "2023-06-30T23:59:59+00:00"
generated_at: "2026-06-13T14:31:27.636191+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# ADP enters $4.25B 364-day & $2.25B five-year credit facilities and amends existing $3.2B facility to SOFR

## Summary
- New $4.25B 364-day credit facility replaces prior $3.75B facility; matures June 28, 2024.
- New $2.25B five-year credit facility replaces prior $2.75B facility; matures June 30, 2028.
- Existing $3.2B five-year facility amended to replace LIBOR with SOFR; matures June 9, 2026.
- Total credit capacity remains $9.7B; use of proceeds for general corporate purposes including refinancing.

## SEC filing metadata
- accession: 0000950142-23-001907
- form_type: 8-K
- ticker: ADP
- cik: 0000008670
- company_name: AUTOMATIC DATA PROCESSING INC
- filed_at: 2023-06-30T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/8670/000095014223001907/0000950142-23-001907-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/8670/000095014223001907/eh230374965_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950142-23-001907
- JSON: https://secwatch.observer/filing/0000950142-23-001907.json
- Plain text: https://secwatch.observer/filing/0000950142-23-001907.txt

## Key facts
- Debt Financings
  AUTOMATIC DATA PROCESSING INC incurred credit facility of $4,250,000,000 with a group of lenders at floating rate per annum based on margin over Term SOFR-based rate or a margin ov maturing June 28, 2024 (option to extend to June 28, 2025).
  - Instrument: credit facility
  - Principal: $4,250,000,000
  - Counterparty: a group of lenders
  - Rate: floating rate per annum based on margin over Term SOFR-based rate or a margin ov
  - Maturity: June 28, 2024 (option to extend to June 28, 2025)
  - Event: incurrence
  source text: On June 30, 2023, Automatic Data Processing, Inc., a Delaware corporation (the “Company”), entered into a $4.25 billion 364-Day Credit Agreement (the “364-Day Facility”) and a $2.25 billion Five-Year Credit Agreement (the “Five-Year Facility,” and together with the 364-Day Facility, the “New Facilities”) with a group of lenders (the “Lenders”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/8670/000095014223001907/0000950142-23-001907-index.htm
- Debt Financings
  AUTOMATIC DATA PROCESSING INC incurred credit facility of $2,250,000,000 with a group of lenders at floating rate per annum based on margin over Term SOFR-based rate or a margin ov maturing June 30, 2028 (option to extend by one year on each anniversary).
  - Instrument: credit facility
  - Principal: $2,250,000,000
  - Counterparty: a group of lenders
  - Rate: floating rate per annum based on margin over Term SOFR-based rate or a margin ov
  - Maturity: June 30, 2028 (option to extend by one year on each anniversary)
  - Event: incurrence
  source text: On June 30, 2023, Automatic Data Processing, Inc., a Delaware corporation (the “Company”), entered into a $4.25 billion 364-Day Credit Agreement (the “364-Day Facility”) and a $2.25 billion Five-Year Credit Agreement (the “Five-Year Facility,” and together with the 364-Day Facility, the “New Facilities”) with a group of lenders (the “Lenders”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/8670/000095014223001907/0000950142-23-001907-index.htm
- Material Agreements
  AUTOMATIC DATA PROCESSING INC amended Amendment Agreement with the lenders to the Existing Credit Agreement (effective 2023-06-30).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: the lenders to the Existing Credit Agreement
  - Effective: 2023-06-30
  source text: On June 30, 2023, the Company also entered into an Amendment Agreement (the “Amendment”) to the Company’s existing $3.20 billion Five-Year Credit Agreement, dated June 9, 2021 (the “Existing Credit Agreement,” the facility thereunder, the “Existing Five-Year Facility,” and together with the New Facilities, the “Facilities”), with the lenders to the Existing Credit Agreement.
  evidence_url: https://www.sec.gov/Archives/edgar/data/8670/000095014223001907/0000950142-23-001907-index.htm
- Material Agreements
  AUTOMATIC DATA PROCESSING INC entered into Five-Year Credit Agreement with a group of lenders (the “Lenders”) valued at $2.25 billion (effective 2023-06-30).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: a group of lenders (the “Lenders”)
  - Value: $2.25 billion
  - Effective: 2023-06-30
  source text: On June 30, 2023, Automatic Data Processing, Inc., a Delaware corporation (the “Company”), entered into a $4.25 billion 364-Day Credit Agreement (the “364-Day Facility”) and a $2.25 billion Five-Year Credit Agreement (the “Five-Year Facility,” and together with the 364-Day Facility, the “New Facilities”) with a group of lenders (the “Lenders”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/8670/000095014223001907/0000950142-23-001907-index.htm
- Material Agreements
  AUTOMATIC DATA PROCESSING INC entered into 364-Day Credit Agreement with a group of lenders (the “Lenders”) valued at $4.25 billion (effective 2023-06-30).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: a group of lenders (the “Lenders”)
  - Value: $4.25 billion
  - Effective: 2023-06-30
  source text: On June 30, 2023, Automatic Data Processing, Inc., a Delaware corporation (the “Company”), entered into a $4.25 billion 364-Day Credit Agreement (the “364-Day Facility”) and a $2.25 billion Five-Year Credit Agreement (the “Five-Year Facility,” and together with the 364-Day Facility, the “New Facilities”) with a group of lenders (the “Lenders”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/8670/000095014223001907/0000950142-23-001907-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.