secwatch.observer — SEC 8-K summary
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Issuer:     RLI CORP (RLI)
CIK:        0000084246
Form:       8-K
Filed at:   2023-04-03T23:59:59+00:00
Accession:  0000084246-23-000025
Event type: debt
Sentiment:  neutral
Materiality: 0.25
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/84246/000008424623000025/0000084246-23-000025-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/84246/000008424623000025/tmb-20230330x8k.htm
  HTML page:      https://secwatch.observer/filing/0000084246-23-000025

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