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Covington Represents Beacon Financial Corporation in its $175M Subordinated Debt Offering

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  • Covington Represents Beacon Financial Corporation in its $175M Subordinated Debt Offering

BOSTON—Covington advised Beacon Financial Corporation in its $175 million issuance of fixed-to-floating subordinated notes due 2036. The company is using the net proceeds to redeem $75 million of subordinated notes due 2029, and for general corporate purposes.

Beacon Financial Corporation is the holding company for Beacon Bank & Trust, commonly known as Beacon Bank, a full-service regional bank serving the Northeast. Headquartered in Boston, Beacon Bank has $22.2 billion in assets and more than 145 branches throughout New England and New York. Beacon Bank offers a full suite of tailored banking solutions including commercial, cash management, asset-based lending, retail, consumer, and residential products and services.

The Covington team included Samantha Kirby, Bill McCurdy, Sebastian Marotta, Ben Sovocool, and Nancy Lu (corporate), Megan Gates (opinions), Kurt Baca (tax), and Jenna Wallace (executive compensation).

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