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Leading Texas Bank Just Keeps Growing

NexBank Capital, Inc. has recently announced that an oversubscribed private placement of its senior unsecured notes has been successful completed. The Dallas-based financial services company reopened the initial offering, raising an extra $80 million. This brought the total issuance to $155 million.

These notes will reach maturity on March 16, 2026; callable starting March 15, 2021. There is a fixed interest rate of 5.5 percent for five years, then a floating rate. These notes have also been assigned the Kroll Bond Rating Agency’s BBB rating for investment grade, with its stable outlook.

NexBank has plans to use the money from this offering to repay some certain debts and other corporate purposes. The sole placement agent for the note offering was Sander O’Neill & Partners, L.P. According to NexBank’s CEO and President John Holt, this oversubscribed placement shows that investors continue to have confidence in the company and its long-term strategies. The company’s track record, stability, and BBB rating have validated NexBank’s excellence even farther.

NexBank’s COO and Executive Vice President Matt Siekielski pointed this out as yet another accomplishment for the company. NexBank is always striving to attract more capital from a broad range of investors. This closing has raised more than $200 million of equity and debt within the past year, providing necessary capital to continue the company’s growth and capital.

NexBank Capital, Inc. is the 4th largest bank in Dallas and the 13th largest in the state of Texas. Their legal lending limit is an astounding $87.7 million, but they have syndication capabilities to make larger transactions. NexBank has been rated one of the Top Performing Banks by ICBA Independent Banker Magazine and ranked in the Top 25 Residential Real Estate Lenders. They are a financial services company that operates mainly through their three core businesses- mortgage banking, commercial banking, and institutional services.