Leader In The Financial World Has Plans For Success

It was recently announced by NexBank Capital, Inc. that their oversubscribed private placement of its senior unsecured notes has been successfully completed. They reopened the original offering, raising an additional $80 million; which brings the total issuance to $155 million. These notes will reach maturity in March of 2026, callable on the 15th of March, 2021. The notes’ interest rate is set at 5.5 percent for the first five years, then a floating rate. The floating rate will be based on a spread over the 3-month LIBOR of 435.5 points.

NexBank has plans to use this offering to repay debt and for varying corporate purposes. The placement agent was Sandler O’Neill & Partners, L.P. President of NexBank John Holt noted that this placement truly reflects investors’ confidence in the company and their strategies. Those extra funds will allow NexBank to grow, increasing their earnings. Their financial strength and stability along with their Kroll Bond Rating of BBB allows NexBank to continue their excellent credit quality.

Executive Vice President added this announcement to the list of accomplishments for the company. According to him, NexBank raised more than $200 million of debt and equity in the last year due to this closing. The funds recently acquired will give them the capital they need to continue their growth and take advantage of more strategic opportunities in the future.

NexBank Capital, Inc. serves its customers as a financial services company through three main businesses- institutional services, commercial banking, and mortgage banking. As a leader in the industry, they are experts are providing customized services mostly to corporations, financial institutions, institutional clients, and individuals all over the country.

The company holds a charter that dates back to 1922, providing banking services across their core businesses. NexBank’s experienced management team includes Chief Financial Officer Craig Korbuly, Chief Operating Officer Matt Siekielski, and President and CEO John Holt.

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