secwatch.observer — SEC 8-K summary
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Issuer:     AUTOMATIC DATA PROCESSING INC (ADP)
CIK:        0000008670
Form:       8-K
Filed at:   2024-06-28T23:59:59+00:00
Accession:  0000950142-24-001814
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/8670/000095014224001814/0000950142-24-001814-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/8670/000095014224001814/eh240501584_8k.htm
  HTML page:      https://secwatch.observer/filing/0000950142-24-001814

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer