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ROCHESTER, N.Y., April 08, 2025--(BUSINESS WIRE)--Paychex, Inc. (Nasdaq: PAYX) today announced the pricing of a public offering of $4.2 billion aggregate principal amount of senior notes, consisting of $1.5 billion aggregate principal amount of 5.100% notes due 2030, $1.5 billion aggregate principal amount of 5.350% notes due 2032, and $1.2 billion aggregate principal amount of 5.600% notes due 2035. The offering is expected to close on or about April 10, 2025, subject to the satisfaction of customary closing conditions.
The intended use of the net proceeds from the offering is to fund the previously announced acquisition of Paycor HCM, Inc. ("Paycor"), including the payment of related fees and expenses, with any remaining net proceeds for general corporate purposes.
J.P. Morgan and BofA Securities are acting as joint book-running managers for the offering.
Paychex has filed a registration statement (including a prospectus and preliminary prospectus supplement) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the base prospectus in that registration statement, the applicable preliminary prospectus supplement and the other documents Paychex has filed with the SEC for more complete information about Paychex and this offering. Copies of the prospectus supplement and accompanying prospectus may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by email at prospectus-eq_fi@jpmchase.com and postsalemanualrequests@broadridge.com, or BofA Securities, Inc. at NC1-022-02-25, 201 North Tryon Street, Charlotte, North Carolina 28255-0001, Attention: Prospectus Department, Email: dg.prospectus_requests@bofa.com.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the debt securities or any other securities, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering of these securities may be made only by means of the prospectus supplement and the accompanying prospectus.
About Paychex
Paychex, Inc. (Nasdaq: PAYX) is an industry-leading HCM company delivering a full suite of technology and advisory services in human resources, employee benefit solutions, insurance, and payroll. The company serves over 745,000 customers in the U.S. and Europe and pays one out of every 12 American private sector employees. The more than 16,000 people at Paychex are committed to helping businesses succeed and building thriving communities where they work and live.