NexBank Capital Inc. just recently publicized an increase in their amount of its private placement of senior unsecured notes. The increment ranged from $50 million on March 8, 2016, to $75million on 9 Sept 2016. The corporation plans to use the proceeds of the offering as a growth capital for its subsidiary bank and to cater for other financial needs of the company. Sandler O’Neill & Partners solely did the placement of the offering, L.P. exclusively.
The notes will be irretrievable for the first five years, and they are expected to earn a fixed rate of 5.5% for five years. Kroll Bond Rating Agency gave an investment rating grade to the notes. With a stable outlook, the notes rose from BBB- to BBB. his is a very positive outlook for the investment and will give stakeholders stable returns going forward.
According to John Holt the current president and the CEO of NexBank, the additional participation in the offering of senior notes and upgrade of Kroll ratings is a clear indication that NexBank has been strong and has had a continued growth. John said that the NexBank team is pleased to see the high demand from the new and existing investors enable them to increase the offering. Over the last six months, the debt and equity have arisen up to $100 million.
NexBank Capital Inc. is a company that deals with the offering of financial services. The company also provides customized banking services to institutional clients, financial institutions, and corporations worldwide. The company also caters for personal online banking service where their customers can access their account from any part of the world.