Loan & DebtApr 28, 2026, 04:06 PM
MFIN Completes $75M Senior Unsecured Notes Private Placement
AI Summary
Medallion Financial Corp. announced the completion of a private placement of $75.0 million aggregate principal amount of senior unsecured notes. These notes, maturing on May 1, 2031, carry a fixed interest rate of 8.25% per year and received an investment grade rating of A- by Egan-Jones. The company plans to utilize the proceeds to bolster its expanding consumer and commercial lending segments and for general corporate purposes, welcoming JP Morgan Investment Management Inc. as a new partner.
Key Highlights
- MFIN completed a private placement of $75.0 million senior unsecured notes.
- The notes will mature on May 1, 2031.
- The notes bear a fixed interest rate of 8.25% per year, paid semi-annually.
- The notes received an investment grade rating of A- by Egan-Jones.
- JP Morgan Investment Management Inc. led the group of institutional investors.
- Proceeds will support growing consumer and commercial lending segments and general corporate purposes.
- Piper Sandler & Co. served as sole placement agent for the offering.