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Arch Capital Group offers depositary shares for preferred stock

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Arch Capital Group offers depositary shares for preferred stock

Arch Capital Group Ltd. is offering a new series of depositary shares, each representing 0.001 of an interest in a series F preferred share.

Arch intends to have the depositary shares listed on Nasdaq and to use the proceeds to partially redeem the company's outstanding series C noncumulative preferred shares.

The offering's joint book-running managers are Merrill Lynch Pierce Fenner & Smith Inc., Morgan Stanley & Co. LLC, Wells Fargo Securities LLC and J.P. Morgan Securities LLC.