Paychex, Inc. Annual report pursuant to Section 13 and 15(d)

Short-term Financing (Tables) - Revolving Credit Facility [Member]

12 Months Ended

May 31, 2019



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.



	Year ended May 31,
$ in millions	2019			2018
Number of days borrowed		95			22
Maximum amount borrowed	$	483.0		$	700.0
Weighted-average amount borrowed	$	387.7		$	319.1
Weighted-average interest rate		3.64	%		4.27	%


	Year ended May 31,
$ in millions	2019			2018
Number of days borrowed		92			42
Maximum amount borrowed	$	400.0		$	400.0
Weighted-average amount borrowed	$	375.6		$	144.8
Weighted-average interest rate		3.55	%		2.80	%


	Year ended May 31,
$ in millions	2019			2018
Number of days borrowed		359			358
Maximum amount borrowed	$	58.9		$	59.9
Weighted-average amount borrowed	$	56.1		$	57.2
Weighted-average interest rate		2.81	%		1.94	%