NexBank Capital, Inc., is a financial services company based in Dallas, Texas. In 2017, the bank announced that it had raised a total of $155 million from its oversubscribed private placement of senior unsecured notes. The company had reopened its initial offering which led to an additional $80 million to bring the total to $155 million.
The notes’ maturity date is March 16, 2026, but will be callable starting March 15, 2021. They have a fixed interest rate of 5.50 percent for five years with a subsequent floating rate. Furthermore, all notes have been assigned a BBB investment grade rating by the Kroll Bond Rating Agency.
NexBank plans to use the raised proceeds to repay its indebtedness and other general corporate purposes. The private offering’s placement agent was Sandler O’Neill & Partners, L.P.
The CEO and President of NexBank, John Holt, said that the oversubscription of its placement demonstrates the high level of confidence that investors have placed on the company and its long-range business strategy. He added that the funds would help the company grow by fortifying its balance sheet and increasing earnings.
NexBank’s Executive V.P. and COO, Matt Siekielski, stated that the strong closing capped a successful year for the company, which saw it raise over $200 million of equity and debt. He further added that the funds were necessary to continue the organic growth of the company’s core businesses while capitalizing on future strategic opportunities.
At the end of 2016, NexBank announced record levels of total consolidated earnings, assets, deposits, and loans. The financial company is poised for growth and high capitalization in the coming years, which will be driven by its regional banks such as NexBank SSB.
NexBank Capital Inc.
NexBank delivers mortgage banking, commercial banking, and institutional services to financial institutions as well as institutional clients. It also serves real estate investors, middle-market companies, and large corporation. As of 2016, the bank had 4.6 billion in assets.
NexBank is headed by an experienced executive team that combines industry expertise and top customer service to provide top-end financial services to individual, corporate, and institutional investors. It is led by Highland Capital’s co-founder and current President James Dondero as Chairman.