XML 38 R25.htm IDEA: XBRL DOCUMENT v3.7.0.1
Debt (Tables)
 3 Months Ended
Mar. 31, 2017
Debt Disclosure [Abstract]  
Schedule of Long-term Debt Instruments
ProAssurance’s outstanding debt consisted of the following:
(In thousands)
March 31,
2017
 
December 31,
2016
Senior notes due 2023, unsecured, interest at 5.3% annually
$
250,000

 
$
250,000

Revolving Credit Agreement, outstanding borrowings are fully secured, see Note 3, and carried at a weighted average interest rate of 1.44% and 1.35%, respectively. Outstanding borrowings are not permitted to exceed $250 million aggregately; Revolving Credit Agreement expires in 2020. The interest rate on the borrowings is set at the time the respective borrowing is initiated or renewed. The current borrowings can be repaid or renewed in the second quarter 2017. If renewed, the interest rate will be reset.
200,000

 
200,000

Total principal
450,000

 
450,000

Less debt issuance costs
1,712

 
1,798

Debt less debt issuance costs
$
448,288

 
$
448,202