Davis Polk advised the joint book-running managers in connection with an SEC-registered offering by Medallion Financial Corp. of $30 million aggregate principal amount of 9.000% notes due 2021 (the “Notes”). The Notes are expected to be listed on the NASDAQ Global Select Market under the symbol “TAXIL.”
Medallion Financial Corp. is a specialty finance company with a leading position in the origination and servicing of loans that finance the purchase of taxicab medallions and various types of commercial businesses. Its wholly owned portfolio company, Medallion Bank, also originates consumer loans for the purchase of recreational vehicles, boats, motorcycles and trailers, and to finance small-scale home improvements. Medallion Financial Corp. is headquartered in New York City.
The Davis Polk capital markets team included partner John G. Crowley and associates Yasin Keshvargar and Dan Gibbons. The tax team included partner Michael Mollerus and associates Arie Rubenstein and Peter Benesch. Counsel Sarah E. Kim provided 1940 Act advice. The financial institutions team included partner Luigi L. De Ghenghi and associates Reuben Grinberg and Craig D. Kennedy. All members of the Davis Polk team are based in the New York office.