Medallion Financial Corp. Announces Completion of Private Placement of $39.0 Million of Senior Notes
The notes will mature on September 30, 2028, and bear a fixed interest rate of 9.25% per year, paid semi-annually.
- The notes will mature on September 30, 2028, and bear a fixed interest rate of 9.25% per year, paid semi-annually.
- The Company used a portion of the proceeds from this offering to repurchase $33.0 million aggregate principal amount of its existing 8.25% senior notes due 2024.
- “We are pleased to announce the closing of our private placement as our businesses continue to perform well,” stated Alvin Murstein, Chairman and CEO of Medallion.
- “This financing reinforces our commitment to maintaining financial flexibility and balance sheet strength.”
Piper Sandler & Co. served as sole placement agent for the offering.