Mercury General extends credit facility maturity to 2018

By Tali Rackner

Norfolk, Va., Dec. 29 – Mercury General Corp. and Mercury Casualty Co. entered into a fifth amendment to their credit agreement dated Jan. 2, 2009 with Bank of America, NA as administrative agent, to extend the maturity date of the loan to Dec. 3, 2018 from Dec. 3, 2017, according to an 8-K filing with the Securities and Exchange Commission.

The amendment, among other things, also incorporates provisions related to European Union bail-in laws and includes in the definition of “change of control” the removal of board members in response to actual or threatened hostile action.

Mercury General is a fire, marine and casualty insurance company based in Los Angeles.

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