Automatic Data Processing offers benchmark five-, 10-year notes; pricing Tuesday

By Aleesia Forni

Virginia Beach, Sept. 8 – Automatic Data Processing Inc. plans to sell a benchmark-sized notes offering in five- and 10-year tranches on Tuesday, according to a market source and a 424B2 filed with the Securities and Exchange Commission.

Bookrunners are BofA Merrill Lynch, J.P. Morgan Securities LLC, BNP Paribas Securities Corp., Citigroup Global Markets Inc., Morgan Stanley & Co. LLC and Wells Fargo Securities LLC.

Proceeds will be used to effect previously announced share repurchases over the next 12 to 24 months and for general corporate purposes

The company provides business outsourcing and computing services to automobile and heavy equipment dealers. The company is based in Roseland, N.J.

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