Business Context and Reporting Period
Company: Medallion Financial Corp.
Filing Type: Form 8-K (Current Report)
Date of Report: November 9, 2017
Event: Entry into a Material Definitive Agreement involving an amendment to a credit facility.
Key Financial Metrics
This filing does not report revenue, profit, cash flow, margins, or liquidity metrics. The document focuses exclusively on a contractual amendment to a credit facility.
Material Changes
- Agreement: Taxi Medallion Loan Trust III (an indirect wholly-owned subsidiary) entered into Amendment No. 5 to its Amended and Restated Loan and Security Agreement dated December 12, 2016.
- Counterparties: Autobahn Funding Company LLC and DZ Bank AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main.
- Terms: The amendment implemented technical changes to improve the Trust's flexibility under the credit facility.
- Interest Rate: The amendment did not change the interest rate on the credit facility.
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, or outlook. No specific risks or contingencies are detailed beyond the standard incorporation by reference of the full amendment text.
Investor Verification Checklist
- Review the full text of Exhibit 10.1 (Amendment No. 5) to understand the specific "technical changes" regarding flexibility.
- Verify the total outstanding balance and remaining term of the underlying Credit Agreement with Autobahn Funding Company LLC and DZ Bank AG.
- Confirm that no other covenants or fees were altered in this amendment.