Automatic Data Processing (ADP) entered into a $3.25 billion 364-day credit agreement and a $3.75 billion five-year credit agreement with a group of lenders. JPMorgan Chase served as administrative agent for the transactions.

The five-year facility contains an accordion feature under which the aggregate commitment can be increased by $500 million to $4.25 billion, subject to the availability of additional commitments. The 364-day facility replaced the company’s prior $2.75 billion 364-day facility, entered into on June 17, 2015, and the five-year facility replaced the company’s prior $3.25 billion five-year facility, entered into on June 18, 2014, both of which were terminated on June 15, 2016.

JPMorgan Chase served as administrative agent for both facilities. Bank of America, BNP Paribas, Wells Fargo, Citibank and The Bank of Tokyo-Mitsubishi UFJ served as syndication agents for both facilities. The existing $2.25 billion five-year credit agreement entered into on June 17, 2015 will continue in full force and effect.

ADP is a comprehensive global provider of cloud-based human capital management solutions that unite HR, payroll, talent, time, tax and benefits administration.