Category Archives: Banking and Finance

Dallas-based Bank Announced Success For $155 Million Senior Unsecured Notes Issuance


After its first senior unsecured notes offerings, NexBank Capital reopened its offering with an additional senior note worth $80 million. With this move, the bank raised a total of $155 million in additional funds. With the funds successfully raised, the bank announces that it will be used for the expansion of its operations.


All the NexBank senior unsecured notes will be maturing on March 16, 2026. The bank announced that all of its notes in this round will be callable starting on March 15, 2021. The interest rate is a fixed rate of 5.50% which will last for five years and will be based on a floating rate based on the three-month LIBOR of 435.5 basis points.


Kroll gave the investment a grade rating of BBB and a stable outlook for the future. Funds from this round will be used to pay the bank’s indebtedness, as well as for general corporate purposes. Sandler O’Neill & Partners is currently the only placement agent for the note private offerings. View More Information Here.


President and Chief Executive Officer John Holt describe this placement as proof of continued confidence that the investors give to their bank. With the funds accumulated in the offering, the company plans to increase its earnings and continue growing. Holt also mentioned the BBB rating from Kroll Bond Rating Agency, which is another proof of the bank’s excellent credit quality.


Meanwhile, Executive President and COO Matt Siekielski stated that this accomplishment is a very significant one for the company. NexBank continues to attract institutional investors, which validates their strong performance, both in their core business and strategies. NexBank managed to close $200 million in debt and equity in just 12 months. With funds in hand, Siekielski assured that the funds will be used to provide capital that is needed for the organic growth of the company.


NexBank is a company being led by James Dondero, the co-founder and the President of Highland Capital Management. Its three main core businesses are as follows: commercial banking, mortgage banking, institutional services. As of 2018, the company has a total of $8.3 billion in assets. It currently has three locations in Mckinney Avenue and Luther Lane.


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