Arch Prices $2 Billion Notes Offering
Arch Capital Group Ltd. announced the pricing of a $2 billion senior notes offering, with proceeds earmarked for debt retirement, tender offers, and general corporate purposes ahead of its expected June 9 closing.
The company said, “Arch Capital Group Ltd. [NASDAQ: ACGL] [“Arch” or the “Company”] announced today the pricing of its offering of $600,000,000 aggregate principal amount of 5.250% senior notes due 2036 [the “2036 Notes”] and $1,400,000,000 aggregate principal amount of 5.950% senior notes due 2056 [the “2056 Notes” and, together with the 2036 Notes, the “Notes”]. The Company intends to use the net proceeds of this offering [i] to redeem, repurchase, repay or otherwise retire the outstanding $500,000,000 aggregate principal amount of 4.011% Senior Notes due 2026 issued by Arch Capital Finance LLC [“Arch Finance”], [ii] to pay the tender price of the previously announced tender offers through its wholly-owned subsidiaries, Arch Capital Group [U.S.] Inc. [“Arch Capital Group”] and Arch Finance for Arch Capital Group’s 5.144% Senior Notes due 2043 [the “2043 Notes”] and Arch Finance’s 5.031% Senior Notes due 2046 [the “2046 Notes”, and together with the 2043 Notes, the “Tender Offer Notes”], and [iii] the balance, if any, for general corporate purposes. The offering is expected to close on June 9, 2026, subject to the satisfaction of customary closing conditions.
“The offering is being led by Wells Fargo Securities, LLC, BofA Securities, Inc., J.P. Morgan Securities LLC and Lloyds Securities Inc., as active joint book-running managers.”
