Nexbank Capital Inc. is a Dallas, Texas based financial service company. The institution publicized the successful accomplishment of a private placement of fixed-to-floating rate subordinated notes to particular institutions and investors. The investment bank intends to channel the raised funds to finance its general activities. Since 2006, the bank has raised close to $300 billion in equities and other investment vehicles.
The Interest Rates
The interest rate to be yielded by the notes has been fixed 6.375% for a period of five years and hasbeen assigned a grade rating of BBB. It also qualifies as tier 2 under relevant capital regulations. The sole placement agent for the offerings of the notes was Sandler O’Neill & Partners. The notes that Nexbank capital offered are not registered under the securities act. Therefore, they may not be sold the United States absent registration.
NexBank Capital Inc: Company Profile
Established in 1934, Nexbank has its headquarters in Dallas and is currently the 11th biggest bank in Texas. The bank also ranks number 161 in the US in terms of workforce and returns. Even though it started small, the bank currently has three locations with a total of 87 employees. The management of the institution has taken it upon themselves to ensure the company is steered in to become one of the greatest financial organizations in America. NexBank was formerly known as Heritage Bank. In 2002, the bank was filed as a foreign-for profit organization. Despite relatively small beginnings, the bank has grown into a formidable entity especially in the investment sector. Its client base has increased tremendously with several high profile clients signed up with the bank.
Products and Services
It primarily provides banking and financial services in the state of Texas. Specifically, it offers mortgages, savings accounts, personal checking accounts, mobile banking, internet banking, commercial lending services, and treasury management. The business also offers institutional services such as such as mergers and acquisitions, corporate banking and lending, corporate finance and advisory, customized programs, syndicated loans, investment banking, agency services, and land advisory services. NexBank serves institutions, companies, and individuals in Texas. It boasts of some of high profile clients including institutions and high-earning individuals.