According to the Dallas PRNewswire on 9th September 2016, NextBank Capital Inc, a Dallas-based firm offering financial services announced an increase in its private placement of senior unsecured notes to $ 75 million. On average, the increase is estimated to be $25 million from the previous amount published in 2016, March the 18th. The firm will use the profits to give capital growth to its banking subsidiary and core purposes. Acting as the primary agent insole placement, Sandler O’Neil and Partners L.P provided notes during the procession.
Notable is the non-callable notes have a stated maturity dating March 16th, 2026. They bear an interest rate of 5.50% spread over five years with a floating rate of three months earning a LIBOR of 435.5 points. The notes have recently upgraded from BBB-to BBB with a stable outlook. John Holt, the chief executive officer and president of NextBank Capital Inc adds that the further participation in the senior notes provides recent Kroll rating upgrades reflecting the financial support of communities.
In his speech, Matt Siekielski, the executive vice president and chief operating officer of NextBank Capital Inc says the firm is pleased with the huge demand from new investors. The demand paved way to increased offering. The debt placement is tailored to suit recent capital raise and equity in six months.
About NextBank Capital Inc
NextBank Capital Inc is a financial services firm providing clients with three core services namely:
• Commercial Banking
• Mortgage Banking
• Investment Banking
NextBank provides leading financial firms, institutional clients, individuals and corporations with first customized financial and banking services. Their mission includes successful leadership and commitment to customers through striving to deliver exceptional value at every available opportunity. NextBank provides clients with unique access to innovative and solutions tailored to by a team of professionals with successful experiences. NextBank has been serving the banking community since 1922.