Paylocity expands credit facility to $550M and extends maturity to 2027

Paylocity Holding Corp

Revolving credit facility increased from $250M to $550M, with option to expand to $825M.
Maturity extended from July 2024 to August 2027, with two possible 1-year extensions.
Interest rate benchmark switched from LIBOR to SOFR plus margin of 0.875%-1.50%.
Swing loan and letter of credit sublimits each raised from $25M to $55M.
Proceeds for working capital, capex, acquisitions, and share repurchases.

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