---
schema_version: "secwatch.filing_event.v1"
accession: "0000947484-23-000089"
form_type: "8-K"
ticker: "ACGL"
cik: "0000947484"
company_name: "ARCH CAPITAL GROUP LTD."
filed_at: "2023-10-02T23:59:59+00:00"
generated_at: "2026-06-10T06:44:13.539657+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.25
calibrated_materiality_score: 0.25
confidence: "high"
source: SEC EDGAR
---

# Arch Capital subsidiary enters $175M letter of credit facility with Lloyds Bank

## Summary
- Arch Reinsurance Ltd. (subsidiary of ACGL) established a $175M L/C facility with Lloyds Bank Corporate Markets plc.
- L/C facility expires on September 27, 2025.
- Covenants require ArchRe to maintain A.M. Best rating ≥ B++ and S&P rating ≥ BBB+.
- Also requires parent Arch not to exceed maximum consolidated leverage ratio and to maintain minimum consolidated tangible net worth.

## SEC filing metadata
- accession: 0000947484-23-000089
- form_type: 8-K
- ticker: ACGL
- cik: 0000947484
- company_name: ARCH CAPITAL GROUP LTD.
- filed_at: 2023-10-02T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.25
- calibrated_materiality_score: 0.25
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/947484/000094748423000089/0000947484-23-000089-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/947484/000094748423000089/acgl-20230927.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000947484-23-000089
- JSON: https://secwatch.observer/filing/0000947484-23-000089.json
- Plain text: https://secwatch.observer/filing/0000947484-23-000089.txt

## Key facts
- Debt Financings
  ARCH CAPITAL GROUP LTD. incurred credit facility of $175 million with Lloyds Bank Corporate Markets plc maturing September 27, 2025.
  - Instrument: credit facility
  - Principal: $175 million
  - Counterparty: Lloyds Bank Corporate Markets plc
  - Maturity: September 27, 2025
  - Event: incurrence
  source text: The L/C Agreement provides for a $175 million facility for letters of credit (the “L/C Facility”). The commitments under the L/C Agreement will expire on September 27, 2025.
  evidence_url: https://www.sec.gov/Archives/edgar/data/947484/000094748423000089/0000947484-23-000089-index.htm
- Material Agreements
  ARCH CAPITAL GROUP LTD. entered into Letter of Credit Facility Agreement with Lloyds Bank Corporate Markets plc valued at $175 million (effective 2023-09-27).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Lloyds Bank Corporate Markets plc
  - Value: $175 million
  - Effective: 2023-09-27
  source text: On September 27, 2023, Arch Reinsurance Ltd. (“ArchRe”), a wholly-owned subsidiary of Arch Capital Group, Ltd. (“Arch”), entered into a Letter of Credit Facility Agreement (the “L/C Agreement”), as the borrower with Lloyds Bank Corporate Markets plc (“Lloyds”), as L/C Issuer (“L/C Issuer”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/947484/000094748423000089/0000947484-23-000089-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.