Popular Dallas-Based Financial Institution Nexbank
About four months ago NexBank, a popular financial services company based in Dallas TX, announced it had completed a private placement of its subordinated notes (fixed-to-floating rate) to certain investors, mainly its high net worth and institutional investors. Its debt offering is worth $54 million. The proceeds from the offering will be going towards general business purposes.
The notes have a maturity of 2027, more specifically September 30 of 2027. Furthermore, for five years the notes will be non-callable, while their interest rates will be fixed for five years. The interest rate on the notes is 6.375 percent. After the five years are up, the notes will have a floating rate.
NexBank’s notes have received a BBB rating as an investment grade. Under applicable capital regulations, the notes qualify as Tier 2 capital.
Who Is NexBank
NexBank is a financial services company with its headquarters based in the city of Dallas, Texas. The company has a charter that dates back to over 20 years and their assets are worth over $7.1 billion. Their clients mainly consist of financial institutions and institutional clients. NexBank also focuses on serving the financial and banking needs of real estate investors, large corporations and mid-market companies.
Products & Services
NexBank offers a range of financial products via its three business cores, which includes mortgage banking, commercial banking, and institutional services. Through its commercial banking core, NexBank offers commercial lending services, commercial real estate lending services and treasury management. Warehouse lending and wholesale & correspondent lending services are offered via its Mortgage Banking core. For its institutional clients, NexBank offers services such as treasury management, investment banking and a range of depository services.
If you would like to become a client of NexBank or learn more about their services, then visit their website. There you will find general information, as well as their contact info.