Beacon Financial sells $175 million 6.25% subordinated notes due 2036
Beacon Financial Corporation completed the sale of $175 million of 6.25% fixed-to-floating rate subordinated notes due September 1, 2036, on August 20, 2026. The company estimates net proceeds of about $171.8 million, which it plans to use with cash on hand, if needed, to redeem its $75 million 6.0% notes due 2029 and for general corporate purposes, so the transaction changes the company's debt mix rather than its operating results.
Key points
- $175 million of subordinated notes issued August 20, 2026, maturing September 1, 2036
- Fixed 6.25% interest until September 1, 2031, then resets quarterly to Three-Month Term SOFR plus 2.15%
- Estimated net proceeds of approximately $171.8 million
- $75 million 6.0% notes due 2029 to be redeemed in full on September 15, 2026, at 100% of principal plus accrued interest
The filing
Written by AI on Nov 8, 2026, 6:56 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 20, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.