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Automatic Data Processing, Inc.'s $7.55 Billion of Credit Facilities

Cravath represented JPMorgan Chase Bank, N.A. in connection with the arrangement of a $3.8 billion 364‑day credit facility and a $3.75 billion five‑year credit facility made available to Automatic Data Processing, Inc., a provider of business process outsourcing services worldwide. The credit facilities will be used for general corporate purposes. The transaction closed on June 13, 2018.

The Cravath team included partner Stephen M. Kessing and associate James J. Valenza on banking matters, associate Rory M. Minnis on tax matters and associate Philip F. Schreiber on executive compensation and benefits matters.