secwatch.observer — SEC 8-K summary
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Issuer:     Paylocity Holding Corp (PCTY)
CIK:        0001591698
Form:       8-K
Filed at:   2022-08-22T23:59:59+00:00
Accession:  0001591698-22-000144
Event type: debt
Sentiment:  positive
Materiality: 0.65
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1591698/000159169822000144/0001591698-22-000144-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1591698/000159169822000144/pcty-20220819.htm
  HTML page:      https://secwatch.observer/filing/0001591698-22-000144

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