Medallion Financial closes $17.5M senior notes placement, extends maturity to 2039, lowers rate to 8.875%

MEDALLION FINANCIAL CORP

Principal increased $5M to $17.5M, replacing existing $12.5M 9.00% Senior Notes due 2033.
New Notes mature June 30, 2039 and bear fixed 8.875% annual rate, paid semi-annually.
Notes received investment grade rating A- from Egan-Jones.
Net proceeds from the additional $5M will be used for general corporate purposes.
President Andrew Murstein highlights lower rate, longer term, and larger amount as positive for shareholder value.

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