Arch sells $200mn depositary shares

Bermudian (re)insurer Arch Capital has closed a $200mn sale of
depositary shares to raise funds to redeem preference stock.
The company sold 8 million depositary shares at $25 apiece,
according to a statement on 17 August.
A further 1.2 million depositary shares are being offered to
bookrunning banks in case of strong demand.
The funds will be used to redeem Series C preferred shares, said
Arch, which added that it may redeem some Series F shares also.
The equity offering...