Arch Capital eyes sale of senior notes to fund acquisition

By Aleesia Forni

Virginia Beach, Dec. 10 - Arch Capital Group (U.S.) Inc. is planning to price an issue of senior notes, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be fully and unconditionally guaranteed by Arch Capital Group Ltd.

BofA Merrill Lynch, J.P. Morgan Securities LLC and Wells Fargo Securities LLC are the joint bookrunners.

Proceeds will be used to fund the acquisition of certain assets of PMI Mortgage Insurance Co., as well as shares of the company's common stock.

Arch Capital Group is a Hamilton, Bermuda-based reinsurance company.

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