Dallas-based firm, NexBank recently announced an increase in its private placement on senior unsecured notes. Consequently, the amount of the firm’s senior unsecured loans notes will rise to 75 million dollars. This is a significant increase, which highlights NexBank’s intention to take over the financial services industry. The firm intends to use funds that will be generated through the offering, to provide the necessary funds to its banking division. The funds will also be used for other corporate purposes.
NexBank used Sandler O’Neill & Partners L.P as its placement agent during the private issuance of the notes. The notes will mature in March 2026. In addition, they are non-callable for a period of five years. They also have a fixed interest rate of 5.50 percent, which will last for five years. After this period elapses, the notes will have a floating interest rate. The notes have already been given an investment guide ranking by Kroll Bond Rating Agency. They have a stable outlook, which means that their profit potential is high.
The company has established a niche for itself in the money markets by offering its products and services via three core businesses. These are mortgage banking, investment banking, and commercial banking. NexBank has grown rapidly due to the provision of custom-made banking and financial services. The company’s services benefit institutional clients, corporations, major financial institutions, and individual bankers.
NexBank has distinguished itself as an industry leader in banking due to its strong commitment to clients. This enables it to deliver exceptional value and unparalleled access to personalized and sophisticated solutions. It banks on the competence and expertise of the professionals that it has on board. These financial experts have a proven track record of success, which translates to the overall success that the company has had. Having been in business for long, NexBank understands the needs of its clients. Therefore, it designs products that meet these needs.