|
Arch Capital Group Ltd, 5.25% Dep Shares Non-Cumul Preferred Shares, Series E
Ticker Symbol: ACGLP* CUSIP: 03939A206 Exchange: NGS
* NOTE: This security is no longer trading as of 9/30/2021
Security has been Called for: Thursday, September 30, 2021
August 30, 2021 -- Arch Capital Group Ltd. [NASDAQ:ACGL] announced today that it has called for redemption on Sept. 30, 2021 (the “Redemption Date”) all 18,000 of its outstanding 5.25% Series E Non-Cumulative Preferred Shares (the “Series E Preferred Shares”) represented by 18,000,000 depositary shares each of which represents a 1/1,000th interest in a Series E Preferred Share (the “Depositary Shares” and together with the Series E Preferred Shares, the “Shares”). The Series E Preferred Shares will be redeemed at a redemption price equal to $25,000 per Series E Preferred Share (or $25.00 per Depositary Share) (the “Redemption Price”). The Redemption Price will be paid on the Redemption Date to holders of record of the Shares on the Redemption Date. In addition, the record holders of the Shares as of Sept. 15, 2021, will receive the previously announced dividend for the third quarter of 2021 of $328.125 per Series E Preferred Share (or $0.328125 per Depositary Share), which will be paid on the Redemption Date.
|
|
QUANTUMONLINE.COM SECURITY DESCRIPTION: Arch Capital Group, Ltd., 5.25% depositary shares each representing 1/1,000th interest in a share of non-cumulative preferred shares series E, liquidation preference $25 per depositary share, redeemable at the issuer's option on or after 9/29/2021 at $25 per depositary share plus declared and unpaid dividends, and with no stated maturity. Non-Cumulative distributions of 5.25% per annum ($1.3125 per annum or $0.328125 per quarter) will be paid quarterly on 3/31, 6/30, 9/30 & 12/31 to holders of record on the record date that will be 3/15, 6/15, 9/15 & 12/15 respectively or a date fixed by the board, not more than 60 days or less than 10 days prior to the payment date (NOTE: the ex-dividend date is one business day prior to the record date). The dividends are non-cumulative and if the board of directors does not declare a dividend or the company fails to pay a dividend declared by the board for any quarterly dividend period, the holder will not be entitled to receive any dividend for that quarterly period and the undeclared or unpaid dividend will not accumulate. Except in specified circumstances relating to certain tax, regulatory or corporate events, the Preferred Shares are not redeemable prior to 9/29/2021. At any time within 90 days following the occurrence of a capital redemption trigger date on which the issuer has reasonably determined a capital disqualification event has occurred, the issuer will have the option to redeem the shares at $25 per depositary share (see prospectus for further information). Dividends paid by these preferred shares are eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) but, since they are issued by a foreign company, are NOT eligible for the dividends received deduction for corporate holders (see page S-6 of the prospectus for further details). This security was rated as Baa2 by Moody’s and BBB by S&P at the date of its IPO. In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
|
Go to Parent Company's Record (ACGL)
IPO - 9/22/2016 - 18.00 Million Shares @ $25.00 /share.
Link to IPO Prospectus
Previous Ticker Symbol: ARHPF Changed: 10/03/2016
Market Value $450.0 Million
|
Company's Online Information Links
|
| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Foreign Address and Phone Numbers |
| Address: Waterloo House, Ground Floor, 100 Pitts Bay Road, Pembroke HM 08, Bermuda |
| Main Phone Number |
441-278-9250 |
| Fax Number |
441-278-9255 |
|
Inv Rel Phone Number
|
441-278-9250 |
| Address and Phone Numbers |
| U.S. Representative |
N.A. |
| Address: |
| Main Phone Number |
Not Available |
| Fax Number |
Not Available |
| Investor Relations
Donald Watson
|
914-872-3616
|
Toll Free Phone Number |
Unknown |
| CEO - Marc Grandisson |
CFO - François Morin |
Find a problem? Please use our Feedback Page or Email us.
Have you filled out our Guestbook? If not, please do.
|
|
