Their $54 Million Subordinated Debt Offering
Nexbank capital is a dallas-based financial services company, and they recently announced an offering of $54 million in subordinated debt. They were seeking to raise some capital from their many investors of high net worth. They are planning on using the proceeds for general business and corporate activities.
Luckily for Nexbank, they were able to raise $283 million in debt and equity from 2016 to late 2017. The notes they issued are not able to be called for at least 5 years, and they have a stated maturity date of September 30, 2027, The interest rate on these notes is at a fixed rate of 6.375% for five years and they offer a floating rate interest amount after that based on the current LIBOR principle of 485.5.
The placement agent for these notes was Sandler, O’Neill, and Partners, and the notes were offered on September 19, 2017. Because the notes are not offered under the securities act, they may not be offered or sold without registration.
Nexbank Capital, Inc. is a financial services company that serves clients with three different objectives in mind: business banking, mortgage banking, and providing institutional services as well. I know that they are providing a huge growing service and they are making an impact on the economy through improving businesses. What’s more, they are able to customize their banking services to institutional clients, corporations, and financial institutions nationwide.
Simply put, Nexbank Capital exists to finance large businesses everywhere. They know that when corporations have capital, not only do they benefit but everyone else around them benefits as well. They know that providing credits to companies that need it is the hallmark of financial assistance. They realize that by doing this they are providing jobs to those that need it and that is why they are dedicated to these endeavors.