Dallas Finance Company & Their Recent Business

A Finance Company and Their Placement Funds

NexBank Capital is a finance company based out of Dallas, Texas. The company issued a private placement of $54 million. Their placement is on a fixed-to-floating rate. The funds are specifically situated for affluent investors with interests in NexBank. NexBank says the proceeds will go towards “general corporate expenses.”

Proceeding the closing, NexBank accumulated a total of $283 million of debt and equity over the course of a year. NexBank Capital’s notes are non-redeemable for five years. The notes have a pre-set payback date of September 30, 2027. NexBank Capital has an interest rate of 6.375% for the first five years of the bond. After the five years, the interest is set at a floating rate that is adjusted according to the specific agreements in place. Proceeding that, there is a LIBOR of 458.5 points that lasts less than 6 months.

NexBank Capital’s notes are designated with a BBB rating. The notes also have a consistent classification with Kroll Bond Rating Agency. The classification is that of Tier 2, depending on capital regulations for the notes.

The closing of notes took place on September 19, 2017. The notes were provided by an afflicted placement agency called “Sandler O’Neill & Partners.”

More About NexBank

NexBank Capital is a finance company that assists their clientele for commercial banking, advisory services and mortgage banking. They operate through their subsidiaries. They work with brokers and dealers, advisors and investors. They founded their company in 1922, in Dallas, Texas.

NexBank currently contains $8.4 billion in assets. NexBank said their management team has experience and expertise in their industry. They aim to administer high-quality financial expertise to clients. The company is co-founded by James Dondero. He serves as the president of the company. Dondero stated that NexBank has a strong management team and years of leadership experience. NexBank believes in making efforts to benefit the company and generate success.

Category: Bank Industry

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