Financing ·
Mercury General Corporation entered into a Second Amended and Restated Credit Agreement on June 24, 2026, providing a…
MCYMercury General Corp
Mercury General Corporation entered into a Second Amended and Restated Credit Agreement on June 24, 2026, providing a $250.0 million unsecured revolving credit facility with Bank of America, N.A. as administrative agent. The facility matures on June 24, 2031, and proceeds can be used for general corporate purposes. Interest rates for borrowings will be based on a fluctuating rate of Term SOFR or Base Rate plus a margin that ranges from 1.00% to 1.50% for SOFR and 0.00% to 0.50% for Base Rate, depending on the Debt to Capital Ratio. The agreement contains financial covenants regarding consolidated shareholders' equity, Debt to Capital Ratio, and Risk Based Capital Ratio. Mercury General Corporation is an insurance company providing various types of insurance coverage.