PAYCHEX INC 8-K

What Happened Paychex Inc. (through Paychex of New York LLC and the Parent) filed an 8‑K on January 26, 2026 disclosing amendments to its two syndicated unsecured revolving credit facilities. On January 23, 2026 the company amended and extended the 2017 Credit Facility and amended the 2019 Credit Facility; JPMorgan Chase Bank, N.A. serves as Administrative Agent for both facilities. In connection with these changes, Paychex Advance, LLC’s separate $250 million revolving facility (the 2020 Credit Facility), administered by PNC, was terminated effective January 23, 2026 (no borrowings were outstanding at termination).

Key Details

• 2017 Credit Facility amendment (dated Jan 23, 2026): increases the total revolver from $750.0 million to $1.0 billion and extends the maturity from September 17, 2026 to January 23, 2031. The incremental facility capacity increases from $375 million to $500 million. Interest rate and covenant provisions were also amended.
• 2019 Credit Facility amendment (dated Jan 23, 2026): amends certain interest rate and covenant provisions; the facility retains an incremental capacity of up to $500 million.
• Termination: The three‑year, $250 million Paychex Advance (2020) facility was terminated effective Jan 23, 2026; there were no outstanding loans under that facility at termination.
• Administrative agent and lenders: Both amended facilities are syndicated with JPMorgan Chase Bank, N.A. as Administrative Agent; lenders and their affiliates have provided and may provide other banking and advisory services for customary fees.

Why It Matters These amendments increase Paychex’s available revolving credit and push a major maturity out to 2031, which improves near‑term liquidity and reduces the need to refinance in the immediate future. Changes to interest rate and covenant language may affect borrowing costs and operational flexibility, so investors should monitor future disclosures for any material covenant triggers or pricing impacts. The termination of the Paychex Advance facility consolidates borrowing lines (and did not involve outstanding debt), simplifying the company’s credit arrangements.