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Insurer Arch Capital Announces New Preferred

Arch Capital (ACGL) has announced their intention to sell a new non-cumulative preferred stock issue.

The issue will be investment grade and qualified.

The company has 2 other issues outstanding and 1 becomes redeemable in September and they have declared their intent to call the 5.25% E issue at that time.

The preliminary prospectus can be found here.

J was right on this with EarlyBird chiming in yield talk in the 4.625% area.

2 thoughts on “Insurer Arch Capital Announces New Preferred”

  1. 500 mm just like that in an hour or so. They could have raised more. Their previous two deal were much smaller. Inflation may be a stalking horse but these yields are killing me. I tried to find some alternatives to what I’m selling…… Even McReits are over par!!

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