Nexbank Inc. is a financial institution that recently announced the completion of its senior unsecured notes. The financial institution reopened its initial offering and raised an addition of $80 million to bring the total to $155million. The oversubscribed private placement has a stated maturity of March 16 2026 and is callable March 2021. The notes also have an interest of about 5.50% which goes up to five years and a floating rate which is based on a spread over three months. The bond has been rated by the BBB by Kroll Bond Rating Agency.
Nexbank intends to use the capital raised from the offering to repay some of its debts and for the expansion of their company. Nexbank worked together with Sandler O’Neill & Partners where Sandler acted as a Sole placement agent. John Holt the President and the Chief Executive Officer of Nexbank said that the launch of the unsecured notes was a clear evidence of the confidence the investors have in Nexbank. He also mentioned that the additional capital will be of a great advantage to the organization as it will allow t hem to balance their sheet with capital and in turn boost the company’s growth.
Nexbank Inc. is a leading financial institution that has been providing its services as well as products to its customers including mortgage, institutional, and commercial banking services. Nexbank has been distributing their quality goods and services to institutions, corporates, as well as individuals. The financial institution has experienced expertise who have f or an extended period been connecting the industry’s expertise with a strong focus on serving their clients. THE Directors of the organization bring with them management and leadership experience as well as strong devotion to the success of the firm. Since its inception it has been delivering its services to real estate investors as well as middle-market companies.