Financing ·
Beacon Financial Corporation completed the issuance and sale of $175 million in aggregate principal amount of 6.25%…
BBTBeacon Financial Corp
Beacon Financial Corporation completed the issuance and sale of $175 million in aggregate principal amount of 6.25% Fixed-to-Floating Rate Subordinated Notes due 2036 on August 20, 2026. The company estimates net proceeds of approximately $171.8 million after deducting underwriting discounts and offering expenses. These funds are intended to redeem the outstanding $75 million aggregate principal amount of 6.0% Fixed-to-Floating Rate Subordinated Notes due 2029, which were assumed from Brookline Bancorp, Inc., plus accrued interest. The redemption of the 2029 Notes is scheduled for September 15, 2026, at a price equal to 100% of the principal amount plus accrued and unpaid interest. Beacon Financial Corporation operates in the banking industry as a financial holding company.