Beacon Financial issues $175M subordinated notes; redeems $75M 2029 notes

Beacon Financial Corp

Issued $175M 6.25% fixed-to-floating subordinated notes due 2036; net proceeds ~$171.8M.
Proceeds used to redeem $75M 6.0% subordinated notes due 2029 (assumed from Brookline merger) and for general corporate purposes.
Notes mature Sept 1, 2036; fixed 6.25% until Sept 1, 2031, then SOFR + 215 bps quarterly.
Redemption of 2029 notes on Sept 15, 2026 at 100% plus accrued interest.
Underwriters: Keefe, Bruyette & Woods and Piper Sandler.

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