Arch Capital to redeem 8% series A, 7.875% series B preferreds

By Marisa Wong

Madison, Wis., March 26 - Arch Capital Group Ltd. plans to redeem all of its outstanding 8% series A noncumulative preferred shares using proceeds from a public offering of series C noncumulative preferreds, according to an 8-K filing with the Securities and Exchange Commission.

The company intends to use any proceeds remaining after the redemption of the series A preferreds to redeem its 7.875% series B noncumulative preferreds.

Arch Capital Group is a Hamilton, Bermuda-based reinsurance company.

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