Nexbank Closed $54 million Subordinated Debt

Nexbank is a private financial equity facility which has its bases in Dallas, Texas. The firm was founded by in the year 1922, and it was formerly known as Heritage bank. Later in 2005, the financial institution changed its name to Nexbank. Its assets worth $6.4 billion and provides banking services and financial products. Nexbank offers a savings account, mortgages, commercial checking accounts, mobile banking services, treasury management, internet banking. It also provides commercial lending services which include business loans and real estate.

Besides, the bank provides institutional services such as financing services, corporate advisory, investment banking, corporate lending and banking, mergers and acquisitions, customized programmes and land advisory services. Nexbank offers its services to companies, individuals and institutions found in Texas and other neighboring states.

The company also conducts philanthropic activities as it aims at improving living standards for Dallas residents. It has specific programmes such as community services programmes, finical education, loan programmes, and an economic development project. Nexbank has sponsored the Dallas Women’s Foundation during their 32nd annual luncheon. The company gave out $100 000 to the foundation to help them support women in developing their economic security and leadership.

The financial services company is a highly reputable company which offers quality services, and it has helped many companies in their growth and development. The founder of the company is Mr. James Dondero. John Holt is the President and the Chief Executive Officer of Nexbank.

Nexbank Capital announced the completion of $54 million debt of subordinated notes to certain net worth and institutional investors. The financial services firm intends to use notes of the offering for the general customer and corporate purposes. With the closing, Nexbank Company has raised over $ 280 million of equity and debt since 2016.

The proceeds are not callable for five years, and they have stated maturity of 2027, 30th of September. The notes consider the interest of fixed rate 6.375% for five years and afterward at a simple interest rate which is based on a spread above a three month LIBOR of 458.5 points. The proceeds were given an investment grade rate of BBB-with a firm outlook by Kroll Bond Rating Agency. The notes also qualify as Tier 2 Capital under the applicable regulations of capital.

The offering was closed on 19th of September 2017, and the sole placement agent was Sandler O’Neill & Partners, L.P. The notes have not been registered under the governments Securities Act hence they can neither be offered nor sold in the United States. To learn more about Nexbank visit icocrowd.com

https://www.slideshare.net/jrotter/nexbank-capital-inc-quarterly-profile-june-2017

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