Philadelphia Consolidated Holding Corp - Current report filing (8-K)

 

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported):		July 11, 2008

Philadelphia Consolidated Holding Corp.
__________________________________________
(Exact name of registrant as specified in its charter)

Pennsylvania	0-22280	23-2202671
_____________________ (State or other jurisdiction	_____________ (Commission	______________ (I.R.S. Employer
of incorporation)	File Number)	Identification No.)
One Bala Plaza, Suite 100, Bala Cynwyd, Pennsylvania		19004
_________________________________ (Address of principal executive offices)		___________ (Zip Code)

Registrant’s telephone number, including area code:		610-617-7900

Not Applicable
______________________________________________
Former name or former address, if changed since last report

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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Item 1.01 Entry into a Material Definitive Agreement.

On July 11, 2008 the Company entered into an Amended and Restated Credit Agreement with Bank of America, N.A. and Wachovia Bank, National Association. This Agreement amended and restated the existing Credit Agreement among the Company and such Banks. Among other changes, the Amended and Restated Credit Agreement changed to the terms of the existing Credit Agreement in the following respects:

a. The maturity date of the Agreement was extended to June 26, 2009;
b. a $10,000,000 Letter of Credit facility was included as part of the aggregate revolving credit commitments of the Bank lenders (being a total of $50,000,000); and
c. the unused commitment fee was increased from .06% to .07% per annum.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		Philadelphia Consolidated Holding Corp.
July 15, 2008		By:		Craig P. Keller
				Name: Craig P. Keller
				Title: Executive Vice President, Secretary, Treasurer and Chief Financial Officer