Arch Underwriting at Lloyd’s (Australia) parent Arch Capital Group has announced the pricing of an offering of US$1 billion (around AU$1.4 billion) aggregate principal amount of 3.635% senior notes due 2050.
Led by Wells Fargo Securities as sole structuring agent and joint book-running manager, the offering is expected to close at the end of the month. Net proceeds will be used for unspecified general corporate purposes.
“The offering is being made pursuant to the company’s effective shelf registration statement previously filed with the Securities and Exchange Commission,” said the Bermuda-headquartered group.
“This offering may be made only by means of a prospectus, including a preliminary prospectus supplement, forming a part of the effective registration statement.”
Acting as joint book-running managers are BofA Securities, Credit Suisse Securities (USA), J.P. Morgan Securities, and Lloyds Securities.
