Nexbank Capital Incorporation, head company of Nexbank SSB and other affiliates recently reopened its original offering of senior unsecured notes. The company successfully raised $80 million to add to its initial offering of $75 million, increasing the total notes to $155 million. Knoll Bond Rating Agency gives the notes a BBB rating with a stable outlook. John Holt, CEO and President of the financial servicing company says the additional funding allows them to support its continued growth and increased earnings stated on their balance sheet.
The profits from the senior unsecured notes will be used to repay Nexbank’s debts and committed growth initiatives. The notes are expected to mature on March 16th, 2206 with calling to begin March 15th, 2021. The company’s subsidiary, Nexbank SSB has a BBB+ rating for bank deposit and a 2017 stable outlook. The financial banking institution is recognized as the top American performance bank with $5 billion in mortgage banking volume the end of 2016. The bank is FDIC insured and chartered, since the early 1920’s.
Nexbank SSB acquired College Savings Bank, a banking institution headquartered, in Princeton, New Jersey, in December 2015. The savings bank serves as program manager for its 529 Bank Plan programs, including Indiana College Choice CD and Arizona Family College Saving Program. These funds are managed in the State of Indiana and State of Arizona, and offered to consumers nationally. They can participate without limitations on the amount of income a family earns annually.
Nexbank recently sponsored the Southern Secondary Market Conference by Texas Mortgage Bankers Association, a two-day event held on January 30th and 31st, 2017. Leaders from the real estate finance industry, including investment bankers, CEOs, regulators, and mortgage investors and brokers attended the function, in Austin, Texas.