Beacon officials announced on July 17 that the company would commence with a private offering to the tune of $500 million in secured notes payable in 2030 to help with the company’s stock buyback plan to repatriate 400,000 shares of Class A Preferred Stock.
In a news release, the company said Beacon Sales Acquisition, Inc., would fully and unconditionally guarantee the notes. Officials said the offering is subject to market and other conditions, and there is no assurance that the offering will be completed or, if completed, as to the terms on which it will be completed.