The amount of experience that Nexbank carries is a testament enough of the standard of services that they provide. Nexbank Capital is one of the pioneer financial institutes based in Dallas Texas. Founded in 1922, the venture is currently functioning under the leadership of John Holt who is serving as the CEO of the institute.
Recently, Nexbank came about with good news which further strengthened its credibility within the financial market. Over this financial journey, Nexbank has time and time again proved the amount of professionalism and financial stability they carry and their recent development further proves this.
Recently, they carried out the completion of their senior unsecured notes that were classified under the oversubscribed private placement. This reopening of their initial offering led them to raise an added balance of $80 million. This brought the total issuance of Nexbank to $155 million. These notes are to mature on 16th March 2026, however, they will be callable starting March 15, 2021.
Nexbank comes up with a pretty good deal on these notes where the interest rate is borne will be fixed for 5.50% during the first five years. After five-years, a floating rate will be applied based on a 3 month LIBOR spread of 435.5 basis points. These notes are granted an investment grade of BBB by the Kroll Bond Rating Agency. Nexbank aims to use the proceeds of these notes to clear off some previous debts and also corporate purposes.
Also, the proceeds improving the capital base within the balance sheet and consequently help in increasing future earnings and growth of the institute. However, these notes issued are not registered as per the Securities Act. This means they cannot be offered in the United States in the absence of registration. They recently announced a record high improvement in their assets and earnings. By the end of 2016, the value of NexBank’s total assets had reached $4.64 billion, which showed a 71% growth rate from the subsequent year. See This Article to learn more.
With this recent achievement of Nexbank, they have maintained their well-capitalized status. One of the regional giants, Nexbank has remained a pioneer in their core businesses since its inception and continues to do so.