Cision PR Newswire

NexBank Capital, Inc. Completes Private Placement of $62 Million of 6.00% Fixed-to-Floating Rate Subordinated Notes

DALLAS, July 8, 2022 /PRNewswire/ --  NexBank Capital, Inc., a Dallas-based financial services company and holding company of NexBank, today announced the successful completion of a private placement of $62 million of its 6.00% fixed-to-floating rate subordinated notes due 2032 (the "Notes"). NexBank Capital, Inc. intends to use the proceeds of the private placement for general corporate purposes and to repurchase a portion of its existing debt.

The Notes will initially bear interest at a fixed rate of 6.00% for five years, and thereafter the interest rate will be reset quarterly to a per annum floating rate equal to the then current three-month term Secured Overnight Financing Rate (SOFR) plus 299 basis points. The Notes have a stated maturity date of July 15, 2032. 

About NexBank Capital, Inc.

NexBank Capital, Inc. is a financial services company that serves its clients through three core businesses: Institutional Banking, Commercial Banking, and Mortgage Banking. It provides customized financial and banking services primarily to institutional clients, financial institutions, and corporations nationwide.

This press release is for informational purposes only and shall not constitute an offer to sell, or the solicitation of an offer to buy, any security, nor shall there by any sale in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The Notes have not been registered under the Securities Act of 1933, as amended, or any state securities law and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. The indebtedness evidenced by the Notes is not a deposit and is not insured by the Federal Deposit Insurance Corporation or any other government agency or fund.

This press release contains forward-looking statements, including but not limited to statements regarding the anticipated use of net proceeds from the private placement of the Notes and other matters. Any statements about our expectations, beliefs, plans, predictions, protections, forecasts, objectives, assumptions or future events or performance are not historical facts and may be forward-looking statements. Forward-looking statements are typically, but not exclusively, identified by the use of forward-looking terminology such as "believes," "expects," "could," "may," "will," "should," "seeks," "likely," "intends" "plans," "pro forma," "projects," "estimates" or "anticipates" or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events or trends and that do not relate solely to historical matters. Forward-looking statements are subject to risks and uncertainties and are not guarantees of future performance and actual results may differ materially from those expressed or contemplated by the particular forward-looking statement, and, therefore, you are cautioned not to place undue reliance on such statements. Further, any forward-looking statement speaks only as of the date on which it is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events or circumstances, except as required by applicable law.

NexBank | Member FDIC | Equal Housing Lender

Cision View original content to download multimedia:

SOURCE NexBank Capital, Inc.

NOTE: This content is not written by or endorsed by "WREG", its advertisers, or Nexstar Media Inc.

For inquiries or corrections to Press Releases, please reach out to Cision.