Arch Capital (ACGL) Prices $325M non-Cumulative Preferred Offering
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Arch Capital Group Ltd. (Nasdaq: ACGL) announced today that it has priced an underwritten public offering of $325 million of its 6.75% Non-Cumulative Preferred Shares, Series C, with a liquidation preference of $25.00 per share. The Company intends to use the net proceeds of this offering to redeem all of our outstanding Series A Non-Cumulative Preferred Shares and Series B Non-Cumulative Preferred Shares.
The Company may redeem all or a portion of the Series C Non-Cumulative Preferred Shares at a redemption price of $25.00 per share on or after April 2, 2017. The Company intends to apply to list the Series C Non-Cumulative Preferred Shares on the New York Stock Exchange under the symbol “ARHPrC.”
The Company may redeem all or a portion of the Series C Non-Cumulative Preferred Shares at a redemption price of $25.00 per share on or after April 2, 2017. The Company intends to apply to list the Series C Non-Cumulative Preferred Shares on the New York Stock Exchange under the symbol “ARHPrC.”
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