NexBank Capital, a renowned financial services institution situated in Dallas, has publicly confirmed that the selling of its senior unsecured notes has ended. The company reopened its initial offering and garnered an extra $80 million, making the total issuance $155 million.
The senior unsecured notes in brief
The notes will mature on March 16, 2026. They are also callable starting from March 15, 2021. NexBank’s notes will have a fixed interest of 5.50 percent for half a decade, and afterward at a floating rate of 435.5 basis points. This floating rate will depend on the spread beyond the three-month LIBOR. The notes have obtained a BBB rating from the Kroll Bond Rating Agency.
NexBank Capital plans to utilize the profits of the offering to settle certain indebtedness as well as for corporate purposes. Sandler O’Neil & Partners was the sole placement agent during the private issuance of the notes.
John Holt’s statements
John Holt stated that the unsecured notes attracted many investors, indicating that investors have confidence in NexBank and its innovative business strategy. He said that the firm would use the funds obtained to expand its services and increase its earnings. NexBank boasts an exemplary record of financial stability and strength. The firm adopts a unique approach to growth. He added the BBB rating proves NexBank’s sound financial performance and outstanding credit quality. John Holt is the current executive head of NexBank.
With assets worth more than $4.6 billion under management, NexBank pioneers in the provision of outstanding services, including mortgage banking, commercial banking solutions, and institutional services. It has a created a loyal client base of financial institutions, corporations, and big business. The firm’s executive management team comprise of industry-leading professionals who combine entrepreneurial abilities and a strong passion for serving clients.
Chairman James Dondero leads a team of directors who leverage their unparalleled leadership experience to drive NexBank’s growth. The company seeks to deliver exceptional value at every opportunity it gets. Clients enjoy unequaled access to unique and custom-tailored solutions supplied by seasoned professionals. NexBank ventured into the banking world after obtaining its charter in 1922.