secwatch.observer — SEC 8-K summary
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Issuer:     Paylocity Holding Corp (PCTY)
CIK:        0001591698
Form:       8-K
Filed at:   2026-09-17T20:06:03+00:00
Accession:  0001591698-26-000131
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Paylocity refinances with new $1.75B revolver maturing 2031
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- Amended and restated credit agreement dated Sept 17, 2026; replaces 2019 facility.
- Facility: $1.75B senior secured revolver with $175M swing loan and $175M LC sublimits.
- Maturity Sept 17, 2031; $81.25M outstanding at signing; up to $875M additional commitments possible.
- Pricing: Term SOFR + 1.00%-1.625% or base + 0.0%-0.625%; commitment fee 0.10%-0.25% on undrawn.
- Covenants: max net total leverage 4.00x, min interest coverage 2.00x; proceeds for general corporate purposes.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1591698/000159169826000131/0001591698-26-000131-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1591698/000159169826000131/pcty-20260917.htm
  HTML page:      https://secwatch.observer/filing/0001591698-26-000131

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