Nexbank is a company located in Dallas, Texas that through its subsidiaries, delivers monetary and banking products and services. In September 2017, the firm was pleased to announce that it had completed the $54 million subordinate debt offering. This was a major achievement for the company.
Following this closing, the company raised hundreds of million dollars of debt and equity. There were profits made as a result of this completion too. Nexbank decided to use these profits for the betterment and prosperity of the firm. This will be achieved through overall corporate functions.
The notes made from completion of the debt offering are non-redeemable. They were set for maturity after five years. During this period, they will gain interest at an agreed fixed rate. Certain terms agreed upon during the offering are as follows:
- The sole placement agent will be Sandler O’Neil & Partners, L.P.
- The notes were assigned an investment grade rating of BBB- with an unchanging viewpoint by Kroll Bond rating Agency.
- They were not registered within the Securities Act
In Texas, this company ranks 11th among the major banks. It started in 1934 and has grown ever since to opening three branches so far. It has almost 100 employees and offers the following banking services:
- Commercial Banking
Under this, the company is obligated to offer solutions to its clients. They are expected to come up with modified and most suitable ideas for their clients’ financial stability. The company has branches such as financial institutions, treasury management and commercial real estate lending that help in commercial banking.
- Mortgage Banking
It is the duty of the firm to use their expertise and connect clients with broader opportunities. This may include appropriate warehouse lending, wholesale and correspondent lending among others. They have a responsibility of offering a vast array of solutions that suit today’s mortgage professional needs.
- Institutional Services
Clients are faced with so many difficulties in the market today. Nexbank has made it their responsibility to find working and improved solutions to these problems. They do so by giving real estate advice for example. They also help in investment banking and treasury management.