Quarterly report pursuant to Section 13 or 15(d)

Short-term Financing (Tables)

v3.10.0.1
Short-term Financing (Tables) - Revolving Credit Facility [Member]
6 Months Ended
Nov. 30, 2018
Line of Credit Facility [Line Items]  
Description of Credit Facilities



 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

Bank

 

Borrower (1)

 

Date Entered

 

Expiration Date

 

Maximum Amount Available

 

Purpose

JP Morgan Chase Bank, N.A.(2)

 

Paychex of New York, LLC

 

August 5, 2015

 

August 5, 2020

 

$1 Billion

 

To meet short-term funding requirements.

JP Morgan Chase Bank, N.A.(2)

 

Paychex of New York, LLC

 

August 17, 2017

 

August 17, 2022

 

$500 Million

 

To meet short-term funding requirements.

PNC Bank, National Association (“PNC”)

 

Paychex Advance, LLC

 

March 17, 2016

 

March 17, 2020

 

$150 Million

 

To finance working capital needs and general corporate purposes.

(1) Borrower is a wholly owned subsidiary of the Company.

(2) JP Morgan Chase Bank, N.A. (“JPM”) acts as the administrative agent for this syndicated credit facility.

JPM $1 Billion Credit Facility [Member] | JP Morgan Chase Bank, N.A. [Member]  
Line of Credit Facility [Line Items]  
Credit Facility Amount Borrowed



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

For the three months ended

 

For the six months ended



 

November 30,

 

November 30,

$ in millions

 

2018

 

2017

 

2018

 

2017

Number of days borrowed

 

 

 

 

 

 

 

 

10 

 

 

 

19 

 

Maximum amount borrowed

 

$

483.0 

 

 

$

700.0 

 

 

$

483.0 

 

 

$

700.0 

 

Weighted-average amount borrowed

 

$

389.8 

 

 

$

445.8 

 

 

$

285.7 

 

 

$

331.6 

 

Weighted-average interest rate

 

 

5.12 

%

 

 

4.25 

%

 

 

5.06 

%

 

 

4.24 

%



JPM $500 Million Credit Facility [Member] | JP Morgan Chase Bank, N.A. [Member]  
Line of Credit Facility [Line Items]  
Credit Facility Amount Borrowed



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

For the three months ended

 

For the six months ended



 

November 30,

 

November 30,

$ in millions

 

2018

 

2017

 

2018

 

2017

Number of days borrowed

 

 

 

 

 

20 

 

 

 

 

 

 

20 

 

Maximum amount borrowed

 

$

135.5 

 

 

$

400.0 

 

 

$

223.0 

 

 

$

400.0 

 

Weighted-average amount borrowed

 

$

83.0 

 

 

$

215.8 

 

 

$

111.8 

 

 

$

215.8 

 

Weighted-average interest rate

 

 

5.25 

%

 

 

2.84 

%

 

 

5.07 

%

 

 

2.84 

%



PNC $150 Million Credit Facility [Member] | PNC Bank, National Association [Member]  
Line of Credit Facility [Line Items]  
Credit Facility Amount Borrowed



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

For the three months ended

 

For the six months ended



 

November 30,

 

November 30,

$ in millions

 

2018

 

2017

 

2018

 

2017

Number of days borrowed

 

 

91 

 

 

 

91 

 

 

 

179 

 

 

 

179 

 

Maximum amount borrowed

 

$

57.7 

 

 

$

58.6 

 

 

$

57.7 

 

 

$

58.6 

 

Weighted-average amount borrowed

 

$

57.3 

 

 

$

57.8 

 

 

$

56.6 

 

 

$

56.8 

 

Weighted-average interest rate

 

 

2.68 

%

 

 

1.78 

%

 

 

2.61 

%

 

 

1.73 

%