Cahill Represents Arch Capital Group Ltd. in $100 Million Preferred Stock Offering
Date: 12/01/17
Cahill represented Arch Capital Group Ltd. in connection with an underwritten primary offering of an additional 4,000,000 depositary shares, each representing 1/1000th interest in its 5.45% Non-Cumulative Preferred Share, Series F. The offering resulted in gross proceeds of approximately $100 million, which will be used to redeem all of Arch’s issued and outstanding 6.75% Series C Non-Cumulative Preferred Shares, with any remaining amounts to be used for general corporate purposes. The depositary shares are listed on NASDAQ. Arch Capital Group provides insurance, reinsurance and mortgage insurance on a worldwide basis through its wholly-owned subsidiaries.