Paychex extends $250 million revolver by three years to 2026

By Marisa Wong

Los Angeles, Feb. 7 – Paychex Advance LLC and parent Paychex, Inc. entered into a second amendment on Feb. 3 to the $250 million unsecured revolving credit facility established on Feb. 6, 2020 with PNC Bank, NA as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

The amendment extends the maturity date of the revolver to Feb. 6, 2026 from Feb. 6, 2023.

Aside from the extension, the existing terms of the revolver remain unchanged.

Paychex is a provider of payroll, human resource and benefits outsourcing services for small- to medium-sized businesses. It is based in Rochester, N.Y.

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