Medallion planning $25 million offering of five-year $25-par notes

By Wendy Van Sickle

Columbus, Ohio, April 11 – Medallion Financial Corp. is planning a $25 million offering of five-year $25-par notes, according to a preliminary prospectus filed with the Securities and Exchange Commission.

Joint bookrunning managers are Keefe, Bruyette & Woods, Inc. and Sandler O’Neill + Partners, LP.

The lead manager is Janney Montgomery Scott LLC, and co-manager is Ladenburg Thalmann.

The notes will callable beginning on April 15, 2020 and will be putable upon a change of control event occurs prior to maturity. The notes will mature April 15, 2021.

The company plans to use proceeds to make loans to and other investments in portfolio companies and for general corporate purposes, including repaying borrowings under its credit facilities and expanding operations.

Medallion is a New York-based specialty finance company that focuses on the origination and servicing of loans to finance the purchase of taxicab medallions and related assets.

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