NexBank recently completed a $54 million subordinate debt offering to high net worth investors and institutions. Over the years, they have built debt and equity worth $283 million. The debt notes were offered at a fixed rate of 6.375% over five years, then a floating rate dependent on the ‘458.5 bias points’. The offering closed in 2017, but before then Sandler O’Neil & Partners L.P were the agents responsible for privately offering the notes.
Based in Dallas, NexBank Capital are showing they can compete at the highest level with the likes of HSBC and Barclays. They offer services from commercial banking to mortgage loans and institutional services. On the commercial side, their highly reliable nature makes them one of the most sought after banks in Dallas, Texas. NexBank commercial activities include SBA loans, commercial loans, real estate lending and others. They offer clients the best quality and provide a competitive edge because of their nationwide expertise and experience. With regards to mortgage banking, they are involved in warehouse lending correspondent lending. In such a scenario, they provide warehouse lines that enable clients close loans more efficiently. Correspondent lending also allow them offer flexible solutions that one would rather expect from larger banks.
NexBank also offer credit services to community banks and institutions looking to diversify and grow their platform. Opportunities include, protective covenants, floating rate coupons of LIBOUR and protection from rising interest rates. This provides very beneficial outcomes like day-to-day loan administration, credit memos and quarterly updates, structured fees in accordance with asset size. Along with this are the complementary services, like accounting.
Investment banking is not a field far from NexBank, as they take part in mergers and acquisition advisory, working hand in hand with some of the most experienced high-level clients to ensure all key stakeholders get the best possible outcome.