NexBank has finally placed its senior unsecured notes. The company reopened the first offering and earned $80 million more which made the total notes jump up to $155 million. The notes are set to mature on March 16, 2026. They are callable started on March 15, 2021. The interest is set at a 5.5% fixed rate for the first 5 years, and then they will be at a floating rate. The investment grade rating for these notes is BBB and Kroll Bond Rating Agency has given them a stable outlook.
NexBank Capital, Inc. already has plans for the proceeds of this offering. The company wants to repay indebtedness as well as use it for general corporate reasons. The only placement agent for the private offering was Sandler O’Neill & Partners, L.P.
Since NexBank has been able to place these notes it proves that investors still have confidence in NexBank and they believe in the company’s long-term strategy. NexBank’s Capital’s President and CEO John Holt says the additional money will help the firm keep growing and boost its earnings. NexBank already has a history of stability and financial strength, as well as unique growth initiative. The company is happy with its BBB rating which further proves the company is strong financially and in credit quality.
Thanks to possessing a stable grade rating with the Better Business Bureau, the prestigious Kroll Bond Rating Agency has acknowledged the bank’s growth and potential. The proceeds of this offering will go towards corporate purposes as well as to repay specific indebtedness. NexBank Capital always has a plan in mind, and it regularly wins out in the end.
About NexBank Capital, Inc.
NexBank Capital, Inc. is a company that offers financial services in 3 business realms such as mortgage banking, institutional services, and commercial banking. Clients working in these core businesses can receive financial and banking services. The company is headquartered in Dallas and its the 10th biggest bank in the entire state of Texas. It was founded in 1934 has 84 employees across 3 locations. All three banks are within Dallas, Texas. The company’s money market rates are 5 times higher than the national average. Visit This Page for more information.