On September 29, 2017, NexBank Capital declared their success in the completion of a private placement worth $54 million of their fix-to-floating rate. This includes subordinated notes to specific investors with high net worth, including certain institutions. The company has stated that they plan to incorporate this profit for general purposes. With all of this in motion, NexBank Capital, Inc. had now raised $283 million in equity and debts since the prior year, 2016.
Investors are not able to pull finances from these bonds for at least five years, making them non-callable. They will also not be considered mature until September 30, 2027 and have an interest rate of 6.375%. This rate will last for five years and then continue onto a floating rate based upon the future LIBOR of 458.5 points that is current to the times.
According to adviserinfo.sec.gov the companies notes have been rated and received a grade from the BBB as well as a good, stable perspective by the Kroll Bond Rating Agency. All of this qualifying the notes as a Tier 2 under capital regulations.
Who is NexBank Capitol Inc. ?
NexBank Capitol Inc. is a financial institution based in Dallas Texas. With the motto of “Execution. Flexibility. Expertise.” , NexBank is all about providing their customers with an optimal banking service. NexBank offers a variety of options ranging from personal banking, to mortgage banking and beyond. They also work with other commercial industries to help finance their endeavors.
The company’s mission is to “deliver uncommon value at every opportunity”. As of September 30, 2018, NexBank has over $8.1 billion in assets and is proud to assist clients both large and small scale. Led by Chairman James Dondero, who is Co-Founder, and President of Highland Capital Management, L.P, clients and trust that they are in good hands with NexBank. For more information, visit the website nexbank.atsondemand.com.