---
schema_version: "secwatch.filing_event.v1"
accession: "0000064996-22-000026"
form_type: "8-K"
ticker: "MCY"
cik: "0000064996"
company_name: "MERCURY GENERAL CORP"
filed_at: "2022-11-22T23:59:59+00:00"
generated_at: "2026-06-21T14:26:45.997758+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Mercury General expands credit facility to $200M, extends maturity to 2026

## Summary
- Credit facility commitments increased to $200 million from $75 million (166% increase).
- Maturity extended to November 16, 2026 from March 31, 2026 (additional 7.5 months).
- Interest rate benchmark changed from LIBOR to SOFR; maximum incremental commitments raised to $100 million.
- No outstanding borrowings at amendment date; facility remains undrawn.

## SEC filing metadata
- accession: 0000064996-22-000026
- form_type: 8-K
- ticker: MCY
- cik: 0000064996
- company_name: MERCURY GENERAL CORP
- filed_at: 2022-11-22T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/64996/000006499622000026/0000064996-22-000026-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/64996/000006499622000026/mcy-20221118.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000064996-22-000026
- JSON: https://secwatch.observer/filing/0000064996-22-000026.json
- Plain text: https://secwatch.observer/filing/0000064996-22-000026.txt

## Key facts
- Debt Financings
  MERCURY GENERAL CORP amended credit facility of $200 million from $75 million with Bank of America, N.A., as administrative agent, and the other lenders party thereto at replaces the London Interbank Offered Rate with the Secured Overnight Financing maturing November 16, 2026.
  - Instrument: credit facility
  - Principal: $200 million from $75 million
  - Counterparty: Bank of America, N.A., as administrative agent, and the other lenders party thereto
  - Rate: replaces the London Interbank Offered Rate with the Secured Overnight Financing
  - Maturity: November 16, 2026
  - Event: amendment
  source text: The First Amendment, among other things, extends the maturity date of the loan to November 16, 2026 from March 31, 2026 with possible further extension if certain conditions are met, increases the aggregate commitments by all the lenders to $200 million from $75 million, replaces the London Interbank Offered Rate with the Secured Overnight Financing Rate in the schedule of different interest rates charged on the outstanding loans based on the Company’s debt to capitalization ratio, and raises the maximum total incremental commitments that the Company can request to $100 million from $37.5 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/64996/000006499622000026/0000064996-22-000026-index.htm
- Material Agreements
  MERCURY GENERAL CORP amended First Amendment to Amended and Restated Credit Agreement with Bank of America, N.A., as administrative agent, and the other lenders party thereto valued at $200 million (effective 2022-11-18).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Bank of America, N.A., as administrative agent, and the other lenders party thereto
  - Value: $200 million
  - Effective: 2022-11-18
  source text: On November 18, 2022, Mercury General Corporation (the "Company") entered into the First Amendment to Amended and Restated Credit Agreement (the "First Amendment") with Bank of America, N.A., as administrative agent, and the other lenders party thereto.
  evidence_url: https://www.sec.gov/Archives/edgar/data/64996/000006499622000026/0000064996-22-000026-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.