{"schema_version":"secwatch.filing_event.v1","accession":"0000084246-23-000025","form_type":"8-K","ticker":"RLI","cik":"0000084246","company_name":"RLI CORP","filed_at":"2023-04-03T23:59:59+00:00","discovered_at":"2026-05-14T18:03:42.409820+00:00","generated_at":"2026-06-17T07:27:33.822547+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.25,"calibrated_materiality_score":0.25,"confidence":"high","headline":"RLI enters new $100M revolving credit facility with PNC Bank, maturing May 2026","bullets":["$100M unsecured revolving credit facility; maturity date May 29, 2026.","Accordion feature allows increase of up to $30M under certain conditions.","Interest: SOFR plus 1.50%-2.00% (ABR plus 0.50%-1.00%) based on leverage ratio.","Commitment fee on unused portion: 0.20%-0.30% per annum.","Covenant requires maximum leverage ratio of 0.35:1 and minimum consolidated net worth."],"urls":{"canonical":"https://secwatch.observer/filing/0000084246-23-000025","json":"https://secwatch.observer/filing/0000084246-23-000025.json","markdown":"https://secwatch.observer/filing/0000084246-23-000025.md","text":"https://secwatch.observer/filing/0000084246-23-000025.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/84246/000008424623000025/0000084246-23-000025-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/84246/000008424623000025/tmb-20230330x8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-17T07:27:33.822547+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"e3074ba972bd4bfbcfe71b39405a901db5f67c26","claim":"RLI CORP incurred revolving credit of $100 million with PNC Bank, National Association, as Lender at Adjusted Term SOFR rate for the applicable interest period plus the applicable m maturing May 29, 2026.","evidence_excerpt":"The Credit Agreement provides for an unsecured $100 million revolving credit facility, with a termination date of May 29, 2026.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/84246/000008424623000025/0000084246-23-000025-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"revolving credit"},{"label":"Principal","value":"$100 million"},{"label":"Counterparty","value":"PNC Bank, National Association, as Lender"},{"label":"Rate","value":"Adjusted Term SOFR rate for the applicable interest period plus the applicable m"},{"label":"Maturity","value":"May 29, 2026"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"b264dc1fd7ab2796eb57a7215c97b5e87129e50a","claim":"RLI CORP entered into Credit Agreement with PNC Bank, National Association valued at $100 million (effective 2023-03-30).","evidence_excerpt":"RLI Corp. (the “Company) in the ordinary course of business replaced its previous credit agreement, which had expired on its terms, by entering into a credit agreement with PNC Bank, National Association, as Lender (the “Credit Agreement”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/84246/000008424623000025/0000084246-23-000025-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"PNC Bank, National Association"},{"label":"Value","value":"$100 million"},{"label":"Effective","value":"2023-03-30"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}