---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-200543"
form_type: "8-K"
ticker: "PAYC"
cik: "0001590955"
company_name: "Paycom Software, Inc."
filed_at: "2023-08-01T23:59:59+00:00"
generated_at: "2026-06-12T18:16:34.241554+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Paycom boosts revolver to $1B, terminates unused $750M term loan

## Summary
- Revolving credit facility increased from $650M to $1.0B by adding $350M in commitments.
- $750M term loan facility terminated with no draws outstanding.
- Additional $500M incremental facility available, subject to lender commitments and conditions.
- Amendment supports planned formation of Paycom Client Trust and Trust Bank for client payroll funds.

## SEC filing metadata
- accession: 0001193125-23-200543
- form_type: 8-K
- ticker: PAYC
- cik: 0001590955
- company_name: Paycom Software, Inc.
- filed_at: 2023-08-01T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1590955/000119312523200543/0001193125-23-200543-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1590955/000119312523200543/d535396d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-200543
- JSON: https://secwatch.observer/filing/0001193125-23-200543.json
- Plain text: https://secwatch.observer/filing/0001193125-23-200543.txt

## Key facts
- Debt Financings
  Paycom Software, Inc. amended revolving credit of Increased from $650.0 million to $1.0 billion with JPMorgan Chase Bank, N.A. at Not specified in excerpt maturing Not specified in excerpt.
  - Instrument: revolving credit
  - Principal: Increased from $650.0 million to $1.0 billion
  - Counterparty: JPMorgan Chase Bank, N.A.
  - Rate: Not specified in excerpt
  - Maturity: Not specified in excerpt
  - Event: amendment
  source text: On July 28, 2023, the Loan Parties and the Lenders entered into Amendment No. 2 to the Credit Agreement (“ Amendment No. 2 ”), pursuant to which, among other things, (i) the aggregate revolving commitments under the Revolving Credit Facility were increased from $650.0 million to $1.0 billion, (ii) the Term Loan Facility was terminated and (iii) the Credit Agreement was amended in contemplation of the formation and future operating activities of Paycom Client Trust (the “ Client Trust ”) and Paycom National Trust Bank, NA (the “ Trust Bank ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1590955/000119312523200543/0001193125-23-200543-index.htm
- Material Agreements
  Paycom Software, Inc. amended Credit Agreement with JPMorgan Chase Bank, N.A., as administrative agent, and the other lenders party thereto valued at $1.0 billion (effective 2023-07-28).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: JPMorgan Chase Bank, N.A., as administrative agent, and the other lenders party thereto
  - Value: $1.0 billion
  - Effective: 2023-07-28
  source text: On July 28, 2023, the Loan Parties and the Lenders entered into Amendment No. 2 to the Credit Agreement (“ Amendment No. 2 ”), pursuant to which, among other things, (i) the aggregate revolving commitments under the Revolving Credit Facility were increased from $650.0 million to $1.0 billion, (ii) the Term Loan Facility was terminated and (iii) the Credit Agreement was amended in contemplation of the formation and future operating activities of Paycom Client Trust (the “ Client Trust ”) and Paycom National Trust Bank, NA (the “ Trust Bank ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1590955/000119312523200543/0001193125-23-200543-index.htm

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