AUTOMATIC DATA PROCESSING INC (ADP): debt financing — ADP enters into $4.55B 364-day and $2.5B five-year credit facilities

AUTOMATIC DATA PROCESSING INC

New $4.55B 364-day facility expires June 26, 2026; five-year facility matures June 27, 2030.
Replaced prior $4.55B 364-day (2024) and $2.25B five-year (2023) facilities, terminated immediately.
Five-year facility includes $500M accordion feature, raising total capacity to $3B.
Interest based on Term SOFR plus 0.625% (Term Benchmark) or Alternate Base Rate; commitment fees range 0.0175%-0.10%.
Proceeds for general corporate purposes, including refinancing existing indebtedness.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

AUTOMATIC DATA PROCESSING INC incurred credit facility of $4.55 billion with JPMorgan Chase Bank, N.A. (Administrative Agent), Bank of America, N.A., BNP Paribas, Wells Fargo Bank, N.A. and Deutsche Bank Securities Inc. (Syndication Agents) at a floating rate per annum based on a margin over a Term SOFR-based rate for a on maturing June 26, 2026.

Instrument: credit facility
Principal: $4.55 billion
Counterparty: JPMorgan Chase Bank, N.A. (Administrative Agent), Bank of America, N.A., BNP Paribas, Wells Fargo Bank, N.A. and Deutsche Bank Securities Inc. (Syndication Agents)
Rate: a floating rate per annum based on a margin over a Term SOFR-based rate for a on
Maturity: June 26, 2026
Event: incurrence

Exact text from the filing

On June 27, 2025, Automatic Data Processing, Inc., a Delaware corporation (the “Company”), entered into a $4.55 billion 364-Day Credit Agreement (the “364-Day Facility”)

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

AUTOMATIC DATA PROCESSING INC incurred credit facility of $2.5 billion with JPMorgan Chase Bank, N.A. (Administrative Agent), Bank of America, N.A., BNP Paribas, Wells Fargo Bank, N.A. and Deutsche Bank Securities Inc. (Syndication Agents) at a floating rate per annum based on a margin over a Term SOFR-based rate for a on maturing June 27, 2030.

Instrument: credit facility
Principal: $2.5 billion
Counterparty: JPMorgan Chase Bank, N.A. (Administrative Agent), Bank of America, N.A., BNP Paribas, Wells Fargo Bank, N.A. and Deutsche Bank Securities Inc. (Syndication Agents)
Rate: a floating rate per annum based on a margin over a Term SOFR-based rate for a on
Maturity: June 27, 2030
Event: incurrence

Exact text from the filing

On June 27, 2025, Automatic Data Processing, Inc., a Delaware corporation (the “Company”), entered into a $4.55 billion 364-Day Credit Agreement (the “364-Day Facility”) and a $2.5 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”). The Five-Year

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Source: SEC EDGAR

accession 0000950142-25-001700

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