Automatic Data Processing signs $5.7 billion and $3.5 billion credit facilities
On June 26, 2026, Automatic Data Processing entered a $5.7 billion 364-day credit agreement and a $3.5 billion five-year credit agreement with a group of lenders. The new facilities replaced a $4.55 billion 364-day facility and a $3.5 billion five-year facility, both of which were terminated on the same date, and the company says their other terms are substantially similar to the facilities they replaced.
Key points
- 364-Day Facility of $5.7 billion: commitments expire June 25, 2027, with an option to extend maturity to June 25, 2028.
- Five-Year Facility of $3.5 billion: matures June 26, 2031, and includes an accordion feature that can raise the commitment by $500 million to $4 billion.
- Replaces a $4.55 billion 364-day facility entered June 27, 2025 and a $3.5 billion five-year facility entered June 28, 2024.
- Commitment fee is 0.0175% per year on the 364-Day Facility and 0.04% to 0.10% on the Five-Year Facility, based on the issuer rating; borrowings may be used for general corporate purposes.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 2:16 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on June 26, 2026.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.