NexBank Capital Inc. is a financial services company located in Dallas, Texas.
The company recently made the public announcement that it had completed deal that
would offer its fixed-to-floating subordinated notes to investors. The deal is
said to be worth $54 million. Nexbank will use the proceeds for general company
operations and brings the tally of money raised by the company since 2016 at
The notes have been assigned a maturity date of September 30, 2027 and are not
eligibled to be called for five years. The interest rate on these notes will be
fixed at 6.375% for five years. At this time a floating rate would become applicable. The notes have been graded favorably by the Kroll Bond Rating Agency and also has qualified as tier 2 capital by standards assigned under applicable capital regulations.
The acting placement agency for the notes’ private offering is Sandler, O’Neill, and Partners. The deal was finalized on September 19, 2017. The notes are not subject to the securities act and can only be sold in the United States with registration or if granted an exemption from registration requirements.
The general health of NexBank is just as impressive. NexBank is now the 12th largest
States. The company has an A health rating and NexBank’s money market rate beat
the national average by three times.
NexBank was first established in 1934 from humble beginnings. The company has now
grown to three locations and employs close to 100 employees. The current leadership
led by James Dondero, who is also the co-founder and President of Highland
Capital Management, continue the company tradition with a breath of management
and leadership commitment that will assure the company’s continued success.