---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-044821"
form_type: "8-K"
ticker: "PAYX"
cik: "0000723531"
company_name: "PAYCHEX INC"
filed_at: "2024-04-16T23:59:59+00:00"
generated_at: "2026-06-03T22:29:55.460874+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# Paychex extends $1B revolver maturity to 2029; amends $750M facility

## Summary
- Maturity of $1.0B unsecured revolver extended from July 2024 to April 12, 2029.
- Interest rate provisions amended; three lenders depart, new lenders join syndicate.
- Twenty subsidiaries released from guaranty obligations under the credit agreements.
- $750M revolver also amended for interest rate and ministerial changes.
- Other terms substantially similar; covenants unchanged.

## SEC filing metadata
- accession: 0000950170-24-044821
- form_type: 8-K
- ticker: PAYX
- cik: 0000723531
- company_name: PAYCHEX INC
- filed_at: 2024-04-16T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/723531/000095017024044821/0000950170-24-044821-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/723531/000095017024044821/payx-20240412.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-044821
- JSON: https://secwatch.observer/filing/0000950170-24-044821.json
- Plain text: https://secwatch.observer/filing/0000950170-24-044821.txt

## Key facts
- Debt Financings
  PAYCHEX INC amended revolving credit of $1.0 billion with JPMorgan Chase Bank, N.A. as Administrative Agent maturing April 12, 2029.
  - Instrument: revolving credit
  - Principal: $1.0 billion
  - Counterparty: JPMorgan Chase Bank, N.A. as Administrative Agent
  - Maturity: April 12, 2029
  - Event: amendment
  source text: a Delaware limited liability company (“PoNY”) and Paychex, Inc., a Delaware corporation (the “Parent”), entered into an amendment (the “2019 Credit Facility Amendment”) to the $1.0 billion, five-year, unsecured, revolving credit facility established on July 31, 2019 (the “2019 Credit Facility”), and last amended on September 17, 2021, in favor of PoNY as borrower
  evidence_url: https://www.sec.gov/Archives/edgar/data/723531/000095017024044821/0000950170-24-044821-index.htm
- Debt Financings
  PAYCHEX INC amended revolving credit of $750.0 million with JPMorgan Chase Bank, N.A. as Administrative Agent.
  - Instrument: revolving credit
  - Principal: $750.0 million
  - Counterparty: JPMorgan Chase Bank, N.A. as Administrative Agent
  - Event: amendment
  source text: to the 2019 Credit Facility. Amendment to 2017 Credit Facility On April 12, 2024, PoNY and the Parent entered into an amendment (the “2017 Credit Facility Amendment”) to the $750.0 million, five-year, unsecured, revolving credit facility established on August 17, 2017 (the “2017 Credit Facility”), and last amended on September 17, 2021, in favor of PoNY as borrower
  evidence_url: https://www.sec.gov/Archives/edgar/data/723531/000095017024044821/0000950170-24-044821-index.htm
- Material Agreements
  PAYCHEX INC amended 2017 Credit Facility Amendment with a syndicate of lenders for which JPMorgan Chase Bank, N.A. acts as Administrative Agent valued at $750.0 million (effective 2024-04-12).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: a syndicate of lenders for which JPMorgan Chase Bank, N.A. acts as Administrative Agent
  - Value: $750.0 million
  - Effective: 2024-04-12
  source text: On April 12, 2024, PoNY and the Parent entered into an amendment (the “2017 Credit Facility Amendment”) to the $750.0 million, five-year, unsecured, revolving credit facility established on August 17, 2017 (the “2017 Credit Facility”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/723531/000095017024044821/0000950170-24-044821-index.htm
- Material Agreements
  PAYCHEX INC amended 2019 Credit Facility Amendment with a syndicate of lenders for which JPMorgan Chase Bank, N.A. acts as Administrative Agent valued at $1.0 billion (effective 2024-04-12).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: a syndicate of lenders for which JPMorgan Chase Bank, N.A. acts as Administrative Agent
  - Value: $1.0 billion
  - Effective: 2024-04-12
  source text: On April 12, 2024, Paychex of New York LLC, a Delaware limited liability company (“PoNY”) and Paychex, Inc., a Delaware corporation (the “Parent”), entered into an amendment (the “2019 Credit Facility Amendment”) to the $1.0 billion, five-year, unsecured, revolving credit facility established on July 31, 2019 (the “2019 Credit Facility”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/723531/000095017024044821/0000950170-24-044821-index.htm

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