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Medallion Financial places $30M of senior notes

New York-based Medallion Financial Corp. has privately placed $30 million of 8.25% senior unsecured notes due March 22, 2024.

Aside from general corporate purposes, proceeds from the offering will be used to increase the company's capital base at subsidiary Medallion Bank and pay down debt.

Sandler O'Neill + Partners LP acted as sole placement agent for the offering.