Paylocity signs $1.75 billion amended revolving credit facility maturing 2031
Paylocity entered into an amended and restated $1.75 billion senior secured revolving credit facility with PNC Bank, National Association, as administrative agent, replacing its 2019 credit agreement as amended in 2022 and 2024. As of the effective date, $81.25 million was outstanding, and the facility matures on September 17, 2031.
Key points
- $1.75 billion senior secured revolving facility, maturing September 17, 2031
- $81.25 million outstanding under the facility as of September 17, 2026
- Company may request up to $875.0 million in increased commitments; lenders are not obligated to provide them
- Covenants require a maximum net total leverage ratio of 4.00 to 1.00 and a minimum interest coverage ratio of 2.00 to 1.00
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:17 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 September 17, 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.