Ruminations of a Taco-Obsessed Philly Native

NexBank Capital recently went on to announce that they had a fully successful subscription to its private placement of its senior unsecured notes which was done by Sandler O’Neill & Partners, L.P. After reopening of their offer they were able to arrive at a total issuance standing of $155 million. Callable from 15th March 2021, the notes have a stated maturity of 16th March 2026, bearing a fixed interest of 5.5% for five years, and there after attracting a floating rate based on a spread above the three months ICE LIBOR of 435.35 basis points.

NexBank Capital mainly plans to use the proceeds from the offering in repaying some of its debts as well as for general corporate purposes. The placement which actually led to an oversubscription to the notes is a clear indicator of the confidence investors have in NexBank Capital and its set goals. John Holt, President and Chief Executive Officer of NexBank Capital who was pleased that NexBank had a BBB rating, talking on behalf of the management said that the company is projecting to grow and increase its operations from the financial gains resulting from the subscriptions, owing to its continued long time financial stability, growth and excellent quality credit quality.

The organization takes acquisition of a BBB Kroll Bond Rating which validated the banks operations and strategies to be a milestone accomplishment in helping it to attract investors “This is another significant accomplishment by NexBank. This was reported by Matt Siekielski, the Executive Vice President and Chief Operating Officer of NexBank Capital, following the announcement of its consolidated earnings, assets, deposits and loans, which was a clear picture of the growth which the company experienced over time.

Being a financial services company, NexBank serves its clients through three major businesses which are Commercial Banking, Mortgage Banking and Institutional Services. The company also provides custom designed financial and banking services mostly to institutions who are their major clients and include financial institutions and corporations nationwide. NexBank main operations can be summarized to be Treasury management, Public Funds, Investment Banking and Real Estate Advisory.