Automatic Data Processing (ADP) replaced its existing credit agreements with new $5.7 billion 364-day and $3.5 billion five-year revolving credit facilities, the company said in a late Friday filing.

The five-year facility includes an option to increase commitments by up to $500 million, and both facilities will be used for general corporate purposes, the company said.

The 364-day facility matures in June 2027, with an option to extend outstanding borrowings by one year, while the five-year facility matures in June 2031, the company added.