NexBank capital Inc, a financial service company, based in Dallas has announced the successful completion of the $54 million debt of its fixed-to-floating rate which was subordinated to several high net worth investors along with some institutional establishments. NexBank also intends to use the proceeds of such an offering for some general purposes. With such, NexBank Capital Inc has raised to over $283 million of equity and debts since 2016.
The notes are known to be non-callable for five years, and their maturity is anticipated to be on September 30, 2027. The notes come with an interest rate of 6.375% per five years. The notes have also been assigned an excellent investment grade of BBB featuring a stable outlook by Kroll Bond Rate Agency. Additionally, the notes qualify as tier 2 capital under the applicable capital regulations.
Sandler O’Neil & Partners, LP acted as the sole placement agent for the various private offerings of this notes. The offering was closed on September 19th, 2017. Since the notes are not yet registered under the Securities Act, they may not be sold in United States.
About NexBank Capital, Inc
NexBank Capital, Inc is a renowned financial service from that serves customers on three different business platforms. These three platforms include the Mortgage Banking, Commercial Banking, as well as the provision of institutional services. The company is known for offering customized financial as well as banking services primarily to its clients, corporate clients and other financial institutions.
NexBank has its headquarters in Dallas. Shockingly, the company is considered the 12th largest bank in Texas not to mention that it is 179th largest in the entire nation. This company was established in 1934 with fewer employees and capital. Nevertheless, by June 2017, NexBank had grown to over 87 employees at 3 locations. The company’s money market rates are three times the national average. The rating is also known to be healthy. This firm has been known because of its competence in delivering the best banking services to clients as well as institutional services, which best suit the needs of the clients.