With the intention of supporting its corporate services, the Nexbank Capital Inc. announced its private placement of subordinated notes worth $54 million successful on 29th September 2017. The notes were the fixed-to-floating rate. They were offered to specific institutions and high-net-worth investors in Texas.
These notes were termed to be noncallable for five years. Their stated maturity is to be on 20th September 2027.
The bank earns an interest of 6.375% for the five years followed by a floating rate. The notes have helped the bank raise $283 million of debt and equity. The floating rate is to be based on the spread above the existing LIBOR (London Interbank Offered Rate) of 458.5 basis points. This investment has earned Nexbank Capital Inc. an investment grade rating of Better Business Bureau under applicable capital regulations.
Through the subordinated notes, the Nexbank Capital Inc. has gained fame as one of the best banks in Texas. The bank, whose headquarters are in Dallas, focuses on the business lines of commercial banking, mortgage banking and also offers institutional services. Referring to its 2017 fourth quartile statistics, the bank has $8.4 billion worth of assets. This illustrates a significant growth as compared to its $4.6 billion value of assets as recorded on December 2016.
Under commercial banking, the bank is well known for its real estate and corporate lending. The bank also offers special financing and treasury management. It has earned the loyalty of its clients as it is able to meet the short and long-term demands of financial institutions and investors. Moreover, they also help the customers to create complex financing structures that aid in efficient conduction of business
The bank also offers public funds and property management under the institutional services line of business. Nexbank helps their clients expand their activities and supports their growth by delivering customized business solutions. In the mortgage banking business line, the group offers warehouse lines as well as flexible and reliable capital for the mortgaging banking needs of their client. The bank’s mortgage volume has risen from $3.5 billion (as recorded in 2015) to $6.1 billion with a period of two years.
Through this, the Nexbank Capital Inc. has earned its position as the fourth largest in Dallas, Texas and as the tenth largest bank in the state of Texas. With such records, Nexbank is definitely on the road to fulfilling its promise to deliver exceptional value at every opportunity.