Medallion Money Announces Completion of Non-public Placement of $33.6 Million of Senior Unsecured Notes

Medallion Financial Corp. (NASDAQ:MFIN, “Medallion Money” or the “Corporation”)) introduced now that it has finished a non-public placement of $33.6 million mixture principal volume of fastened rate senior unsecured notes to sure institutional buyers. The notes will experienced on December 30, 2027 and bear a fixed curiosity fee of 7.50% per 12 months, paid semi-each year. The notes obtained an expense quality rating of A minus by Egan-Jones.

“We are pleased to announce the closing of our non-public placement as our financially rewarding industrial and customer lending segments continue on to prosper,” stated Alvin Murstein, Chairman and CEO of Medallion Economical. “The Firm intends to use the proceeds of this giving for normal corporate needs, together with the repayment of our present community 9% senior notes maturing in April 2021.”

Piper Sandler & Co. served as lead placement agent and Oppenheimer & Co. Inc. and B. Riley Securities, Inc. served as co-placement agents for the featuring.

The offer you and sale of the notes have not been registered beneath the Securities Act of 1933, or any condition securities rules, and the notes may perhaps not be provided or offered in the United States absent registration or an relevant exemption from, or in a transaction not subject to the registration demands of the Securities Act and relevant condition guidelines.

This push launch is for informational purposes only and does not represent an offer you to provide or a solicitation of an give to purchase the notes or any other securities of the Corporation, nor shall there be any sale of the notes or any other securities of the Corporation in any state or other jurisdiction in which, or to any man or woman to whom, these types of give, solicitation or sale is illegal.

About Medallion Fiscal Corp.

Medallion Money Corp. is a finance business that originates and expert services loans in different industries, and its wholly owned subsidiary, Medallion Bank, also originates and products and services purchaser loans. Medallion Fiscal Corp. has lent much more than $9 billion considering the fact that its first general public presenting in 1996.

Remember to notice that this push launch incorporates forward-wanting statements that contain challenges and uncertainties relating to enterprise performance, income move, net desire money and fees, other charges, earnings, and growth. These statements are generally, but not constantly, built by means of the use of terms or phrases this kind of as “will” and “proceed” or the negative version of those words or other equivalent terms or phrases of a upcoming or ahead-hunting character. These statements relate to future public announcements of our earnings, expectations concerning medallion loan portfolio, the prospective for upcoming asset progress and industry share prospects. Medallion’s real success may differ drastically from the success talked over in such forward-searching statements. For illustration, statements about the outcomes of the COVID-19 pandemic on Medallion’s business, functions, economic functionality and prospective customers constitute forward-seeking statements and are subject to the hazard that the precise impacts may perhaps differ, maybe materially, from what is reflected in all those ahead-seeking statements due to variables and potential developments that are unsure, unpredictable and in a lot of conditions over and above Medallion’s manage, which include the scope and duration of the pandemic, steps taken by governmental authorities in reaction to the pandemic, and the direct and indirect effects of the pandemic on Medallion, its buyers and 3rd parties. In addition to dangers connected to the ongoing COVID-19 pandemic, for a description of certain dangers to which Medallion is or might be subject, make sure you refer to the things talked about underneath the heading “Threat Elements” in Medallion’s 2019 Yearly Report on Sort 10-K and Variety 10-Q for the quarter ended September 30, 2020.

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