secwatch.observer — SEC 8-K summary
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Issuer:     Paycom Software, Inc. (PAYC)
CIK:        0001590955
Form:       8-K
Filed at:   2026-04-23T23:59:59+00:00
Accession:  0001193125-26-173704
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Paycom signs $2.125B revolving credit facility maturing 2031
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- New senior secured revolver ups aggregate commitment to $2.125B; $675M drawn at closing.
- Facility matures April 23, 2031; includes $750M incremental accordion option.
- Proceeds for working capital, acquisitions, and share repurchases.
- Financial covenants: Consolidated Interest Coverage ≥3.00x; Consolidated Leverage ≤3.50x.
- Interest margins step from 1.25%-2.00% over Term SOFR based on leverage ratio.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1590955/000119312526173704/0001193125-26-173704-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1590955/000119312526173704/payc-20260423.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-173704

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