Erie Indemnity amends $100 million PNC revolving credit facility, extends term to 2029
Erie Indemnity entered into a First Amendment on November 1, 2024 to its October 2021 credit agreement with PNC Bank, which provides up to $100 million in revolving credit. The amendment extends the facility to November 1, 2029, raises the permitted guarantee limit from $50 million to $100 million, and raises the judgment default threshold from $50 million to $100 million. The filing does not report any drawn amount, and the changes affect the terms under which the company can borrow.
Key points
- Revolving credit facility of up to $100 million, including up to $25 million for letters of credit, with PNC Bank as administrative agent
- Facility term extended to November 1, 2029
- Permitted guarantees increased from $50 million to $100 million; judgment default threshold raised from $50 million to $100 million
- Based on current leverage, pricing is SOFR plus a 0.5% margin or the Base Rate, with a 0.08% quarterly commitment fee on unused amounts
The filing
Written by AI on Nov 8, 2026, 2:07 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 04, 2024.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.