The latest announcement by NexBank Capital, Inc. about increasing the amount of senior unsecured notes offering to about $75 million will see the company grow its capital for its banking subsidiary as well as other corporate purposes. The financial services company released the statement on September 9, 2016, and indicated that the increase in the offering was to ensure the strong demand from investors is met.
In March 2016, NexBank Capital reported strong consolidated results for the full financial year and the fourth quarter of 2015. The company recorded a 35 percent growth in the Return on Average Equity. Its net income for the 2015 full year reached $53.2 million from $16.2 million in 2014.
Over the entire year, the company’s total assets grew to $2.72 billion, a 48 percent growth from the value in 2014. Basically, NexBank has remained focused on its institutional client base and the development of its business in the United States. The company continues to position itself to capture every opportunity that will expand and strengthen its product offering.
The increase in senior unsecured notes offering represents a $25 million increase from what the NexBank had announced in March 2016. The company used Sandler O’Neill & Partners, L.P. as its primary placement agent for the private offering of the senior unsecured notes. According to the reports, the stated maturity of the notes is March 16, 2026, and they are non-callable for a period of five years. For the first five years, the notes will bear interest at a fixed rate of 5.50 percent after which a floating rate will apply.
NexBank is a financial services company with its headquarters in Dallas Texas. The company deals with three core areas namely Mortgage Banking, Commercial Banking, and Investment Banking. For over nine decades, NexBank has been providing customized financial and banking services to its clients including financial institutions, corporations, institutional clients, and individual clients throughout the United States.