Deluxe Corp. has entered into a secured five-year, committed revolving credit facility amounting to $950 million.

The facility, which matures March 21, 2023, has an accordion feature that can upsize it to approximately $1.43 billion.

The company said there is approximately $741 million outstanding under the credit agreement with JPMorgan Chase Bank NA, as administrative agent, and Fifth Third Bank, SunTrust Bank and U.S. Bank NA as co-syndication agents.

The net available borrowings are approximately $199 million. Interest accrues at an adjusted London Interbank Offered Rate plus 1.25% to 1.875% depending on the company's leverage ratio on the applicable date, or at an adjusted base or prime rate plus 0.25% to 0.875% depending on the leverage ratio.

Deluxe has also terminated a prior credit facility. There are no outstanding borrowings in the prior credit agreement, the company said.