---
schema_version: "secwatch.filing_event.v1"
accession: "0000064996-23-000037"
form_type: "8-K"
ticker: "MCY"
cik: "0000064996"
company_name: "MERCURY GENERAL CORP"
filed_at: "2023-11-30T23:59:59+00:00"
generated_at: "2026-06-07T20:07:37.982097+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Mercury General increases revolving credit facility by $50M to $250M; net worth covenant amended

## Summary
- Aggregate commitments increased from $200M to $250M via $50M accordion feature.
- BMO Bank N.A. joins as a lender with $30M commitment; Bank of America adds $20M.
- Minimum consolidated net worth covenant revised to add 25% of positive net income starting with FY 2023.
- Amendment dated November 30, 2023; no defaults exist and all other loan terms remain in effect.
- Existing lenders Wells Fargo ($85M) and U.S. Bank ($15M) retain their commitments unchanged.

## SEC filing metadata
- accession: 0000064996-23-000037
- form_type: 8-K
- ticker: MCY
- cik: 0000064996
- company_name: MERCURY GENERAL CORP
- filed_at: 2023-11-30T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/64996/000006499623000037/0000064996-23-000037-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/64996/000006499623000037/mcy-20231130.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000064996-23-000037
- JSON: https://secwatch.observer/filing/0000064996-23-000037.json
- Plain text: https://secwatch.observer/filing/0000064996-23-000037.txt

## Key facts
- Debt Financings
  MERCURY GENERAL CORP amended credit facility of increases the aggregate commitments provided under the Existing Credit Agreement from $200 million to $250 million with Bank of America, N.A., as administrative agent.
  - Instrument: credit facility
  - Principal: increases the aggregate commitments provided under the Existing Credit Agreement from $200 million to $250 million
  - Counterparty: Bank of America, N.A., as administrative agent
  - Event: amendment
  source text: increases the aggregate commitments provided under the Existing Credit Agreement from $200 million to $250 million and (ii) revises the consolidated net worth covenant
  evidence_url: https://www.sec.gov/Archives/edgar/data/64996/000006499623000037/0000064996-23-000037-index.htm
- Material Agreements
  MERCURY GENERAL CORP amended Second Amendment to Amended and Restated Credit Agreement with Bank of America, N.A., as administrative agent, and the lenders party thereto valued at $200 million to $250 million (effective 2023-11-30).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Bank of America, N.A., as administrative agent, and the lenders party thereto
  - Value: $200 million to $250 million
  - Effective: 2023-11-30
  source text: On November 30, 2023, Mercury General Corporation (the "Company") entered into the Second Amendment to Amended and Restated Credit Agreement (the "Second Amendment") with Bank of America, N.A., as administrative agent (the "Agent"), and the lenders party thereto.
  evidence_url: https://www.sec.gov/Archives/edgar/data/64996/000006499623000037/0000064996-23-000037-index.htm

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