The Dallas based financial services International, NexBank Capital announced that it had successfully completed the $54 million settlement of private and institutional fixed-to-floating placements to high-net-worth investors and institutions.
The Settlement Terms and Conditions
The notes will have an interest fixed at 6.37% for the next five years and a stated maturity of September 2017. From then forward, it will be charged at a floating rate on the basis of spread, provided it will be above LIBOR of points 485.5.
The notes similarly have been assigned a grade rating at BBB with a promising and stable outlook by Kroll Bond Agency. It has also been certified as a Tier 2 capital, as per the current capital regulations.
The Settling Firm
The transaction was successfully handled by Sandler O’Neil & Partners, who represented the company as the sole placement agent for private transfer of the notes. The offering had a closing date of September 30, 2017.
It is, however, plain to both parties that the notes are not registered under the Securities Act and may therefore not be sold in the U.S.
The NexBank Capital International
NexBank Capital Inc. is a financial and banking services company and institution that provides its client’s services under three main core areas:
- Commercial Banking
- Institutional Services
- Mortgage Banking
The institution provides customized and personalized banking and financial services to private clients, financial firms, micro-lending firms, corporations and high net worth individuals.
Asset ValuationsNexBank similarly caters for the financial needs of the middle-market players, international companies and the real estate sectors and investors. Its asset valuation as at June 2017 stood at $6.4 billion, all from the banking, mortgage, and institutional transactions.
NexBank is proud to have a committed management team that combines expertise and skills to focus on their clients. The qualities have ensured the bank continues its corporate capabilities at both the individual and the institutional levels.