Arch Capital prices $1bn senior notes for 'corporate purposes'

Bermuda-based re/insurer Arch Capital Group has announced a $1 billion public offering of 3.635 percent senior notes due 2050.

The company intends to use the net proceeds of this offering for general corporate purposes.

The offering is expected to close on June 30, 2020, subject to customary closing conditions.

The offering is being led by Wells Fargo Securities as sole structuring agent and joint book-running manager, and BofA Securities, Credit Suisse Securities (USA), JP Morgan Securities and Lloyds Securities, as joint book-running managers.