---
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"
generated_at: "2026-06-17T07:27:33.822547+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.25
calibrated_materiality_score: 0.25
confidence: "high"
source: SEC EDGAR
---

# RLI enters new $100M revolving credit facility with PNC Bank, maturing May 2026

## Summary
- $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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: neutral
- materiality_score: 0.25
- calibrated_materiality_score: 0.25
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000084246-23-000025
- JSON: https://secwatch.observer/filing/0000084246-23-000025.json
- Plain text: https://secwatch.observer/filing/0000084246-23-000025.txt

## Key facts
- Debt Financings
  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.
  - Instrument: revolving credit
  - Principal: $100 million
  - Counterparty: PNC Bank, National Association, as Lender
  - Rate: Adjusted Term SOFR rate for the applicable interest period plus the applicable m
  - Maturity: May 29, 2026
  - Event: incurrence
  source text: The Credit Agreement provides for an unsecured $100 million revolving credit facility, with a termination date of May 29, 2026.
  evidence_url: https://www.sec.gov/Archives/edgar/data/84246/000008424623000025/0000084246-23-000025-index.htm
- Material Agreements
  RLI CORP entered into Credit Agreement with PNC Bank, National Association valued at $100 million (effective 2023-03-30).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: PNC Bank, National Association
  - Value: $100 million
  - Effective: 2023-03-30
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/84246/000008424623000025/0000084246-23-000025-index.htm

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