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Slideshow Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Wednesday, April 24, 8:19 AM

Slide #143. Arch Capital Group Ltd. Preferred Stock Offering

Company: Arch Capital Group Ltd. (NASDAQ:ACGL)
Date announced: 9/22/2016
Shares Offered: 18,000,000
Date of Pricing: 9/22/2016
Price Per Share: $25.00
Preferred Stock Offering Details: Arch Capital Group Ltd. [NASDAQ:ACGL] announced today that it has priced an underwritten public offering of 18,000,000 Depositary Shares, each of which represents a 1/1,000th interest in a 5.25% Non-Cumulative Preferred Share, Series E, of ACGL. The public offering price is $25 per Depositary Share for an aggregate public offering price of $450 million. The underwriters have been granted a 30-day option to purchase up to an additional 2,700,000 Depositary Shares. The Company intends to use the net proceeds of this offering to fund a portion of the cash consideration for its acquisition of United Guaranty Corporation and AIG United Guaranty Insurance (Asia) Limited from their current owner, American International Group, Inc. (UGC Acquisition), to pay related costs and expenses and for general corporate purposes. The closing of this offering is not contingent on the closing of the UGC Acquisition. The offering is expected to close on September 29, 2016, subject to customary closing conditions.

Arch Capital Group is a holding company. Through its subsidiaries and, through operations in Bermuda, the U.S., Europe and Canada, Co. writes lines of property and casualty insurance and reinsurance, as well as mortgage insurance and reinsurance, on a worldwide basis. Co. has three underwriting segments: insurance, which writes business on both an admitted and non-admitted basis; reinsurance, which writes business on both a proportional and non-proportional basis and writes both treaty and facultative business; and mortgage, which includes U.S. and international mortgage insurance and reinsurance operations as well as government sponsored enterprise credit risk sharing transactions.

Preferreds: ARH.PRC, ACGLP


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Name:  Arch Capital Group Ltd
Website:  www.archcapgroup.com
Sector:  Insurance Brokers
Number of ETFs Holding ACGL:  58 (see which ones)
Total Market Value Held by ETFs:  $1,441,862,206
Total Market Capitalization:  $13,094,000,000
% of Market Cap. Held by ETFs:  11.01%
 

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