Arch Capital to tap series F 5.45% non-cumulative preferred shares

By Cristal Cody

Tupelo, Miss., Nov. 29 – Arch Capital Group Ltd. plans to price a reopening of depositary shares that represent a 1/1,000th interest in its 5.45% series F non-cumulative preferred shares, according to a 424B2 filed with the Securities and Exchange Commission on Wednesday.

BofA Merrill Lynch and Wells Fargo Securities, LLC are the bookrunners.

The company originally issued the securities on Aug. 17. As of Nov. 29, there were 9.2 million existing depositary shares outstanding.

Proceeds will be used to redeem the company’s series C non-cumulative preferred shares and for general corporate purposes.

Arch Capital is an insurance, reinsurance and mortgage insurance provider based in Hamilton, Bermuda.

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