By William Gullotti
Buffalo, N.Y., Sept. 7 – NexBank Capital, Inc. completed a private placement of $100 million of 6% fixed-rate reset non-cumulative perpetual preferred stock, series A, to institutional investors, according to a press release on Tuesday.
The preferreds were given a BBB rating from Egan-Jones Ratings Co.
Jefferies LLC served as financial adviser and Hunton Andrews Kurth LLP served as legal counsel to NexBank in the offering.
NexBank Capital is a Dallas-based financial services company.
| Issuer: | NexBank Capital, Inc.
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| Issue: | Fixed-rate reset non-cumulative perpetual preferred stock, series A
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| Amount: | $100 million
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| Maturity: | Perpetual
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| Dividend: | 6%
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| Settlement date: | Sept. 1
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| Rating: | Egan-Jones: BBB
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| Distribution: | Private placement
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