Loan & DebtJun 26, 2026, 05:07 PM
ADP Secures $5.7B 364-Day & $3.5B Five-Year Credit Facilities
AI Summary
Automatic Data Processing, Inc. (ADP) entered into new credit agreements totaling $9.2 billion. This includes a $5.7 billion 364-Day Credit Agreement, replacing a $4.55 billion facility, and a $3.5 billion Five-Year Credit Agreement, replacing a facility of the same amount. The new facilities provide revolving credit for general corporate purposes and refinancing, with the Five-Year Facility having an accordion feature for an additional $500 million.
Key Highlights
- ADP secured a new $5.7 billion 364-Day Credit Agreement.
- ADP secured a new $3.5 billion Five-Year Credit Agreement.
- The 364-Day facility replaces a $4.55 billion facility, increasing credit by $1.15 billion.
- The Five-Year facility replaces a $3.5 billion facility, maintaining the same amount.
- Five-Year facility includes an accordion feature to increase by $500 million to $4 billion.
- Funds will be used for general corporate purposes and debt refinancing.
- JPMorgan Chase Bank N.A. is the Administrative Agent for both facilities.
Price Impact
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