debt
confidence high
sentiment neutral
materiality 0.50
Arch Capital subsidiary ups letter-of-credit facility by $170M to $700M
ARCH CAPITAL GROUP LTD.
- Amendment increased LC facility from $530M to $700M; $700M in LCs outstanding as of Oct 31, 2024.
- Availability period extended to May 31, 2025; facility supports Lloyd's Funds at Lloyd's requirements.
- Borrower is Arch Reinsurance Ltd.; facility backed by Lloyds Bank, RBC, TD, ANZ, OCBC.
- No default triggered; representations and warranties reaffirmed as true.