Beacon Financial prices $175 million subordinated notes offering

PUBT · 1d ago
Beacon Financial prices $175 million subordinated notes offering
  • Beacon Financial priced USD 175 million of 6.25% Fixed-to-Floating Rate Subordinated Notes due 2036.
  • Offering closed Aug. 20, 2026 under an underwriting agreement.
  • Coupon fixed at 6.25% through Sept. 1, 2031; then resets quarterly to three-month term SOFR + 2.15%.
  • Redeemable at par from Sept. 1, 2031; earlier whole-call allowed on tax or Tier 2 capital events, subject to Fed approval.
  • Notes intended to qualify as Tier 2 capital; subordinated to senior debt and effectively subordinated to bank subsidiary liabilities.


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