ADP enters $8.05B in new credit facilities, replaces prior lines

AUTOMATIC DATA PROCESSING INC

New $4.55B 364-day and $3.5B five-year facilities; five-year has $500M accordion feature.
Replace prior $4.25B 364-day (June 2023) and $3.2B five-year (June 2021) agreements, both terminated June 28, 2024.
364-day matures June 27, 2025 (possible extension to 2026); five-year matures June 28, 2029.
Pricing: Term SOFR + 0.625% (or ABR + 0.00%); commitment fees 0.0175% (364-day) and 0.04%-0.10% (five-year).
Proceeds for general corporate purposes and refinancing existing indebtedness.

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