FARMINGTON, Conn., February 28, 2022 /PRNewswire/ — Horizon Technology Finance Corporation (NASDAQ: HRZN) (“Horizon” or the “Company”), a leading specialty finance company that provides capital in the form of secured loans to private equity-backed companies. risk in the technology, life sciences, health information and services, and sustainability sectors, today announced that Horizon Secured Loan Fund I LLC, the wholly owned subsidiary of ‘Horizon (“HSLF”), amended its senior secured credit facility with a major US-based insurance company. Under the amended agreement, the commitment to HSLF has increased by $100 million to allow HSLF to transmit up to $200 million guaranteed tickets.
The amendment to the credit facility extends the investment period to June 2023 and the due date June 2028. In addition, the amendment reduces, among other things, the applicable margin used to calculate the credit facility interest rate on the Company’s borrowings above $100 million. These borrowings will be priced at the average three-year US market swap rate plus 3.00%. The facility is secured by certain of the Company’s assets.
“We are pleased to further strengthen our capital resources and expand our lending capacity, which allows us to further grow our risky debt portfolio while lowering our cost of capital,” said Daniel R. Trolio, executive vice president and chief financial officer of Horizon. “We look forward to using this facility to more effectively deploy our capital resources and continue to diversify our sources of debt. We believe we remain well positioned to continue to create value for our shareholders.”
About Horizon Technology Financing
Horizon Technology Finance Corporation (NASDAQ: HRZN) is a leading specialty finance company that provides capital in the form of secured loans to venture-backed companies in the technology, life sciences, health information and services and sustainability. HRZN’s investment objective is to maximize the return on its investment portfolio by generating current income from the debt investments it makes and capital appreciation from the warrants it receives when of these debt investments. Horizon Technology Finance Management LLC is headquartered in Farmington, Connecticutwith a regional office in Pleasanton, Californiaand investment professionals located in Portland, Maine, Austin, TXand Reston, Virginia. To learn more, please visit www.horizontechfinance.com.
Statements included in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and do not constitute are not guarantees of future performance, conditions or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements due to a number of factors, including those described from time to time in the Company’s filings with the Securities and Exchange Commission. Horizon assumes no obligation to update any forward-looking statements made herein. All forward-looking statements speak only as of the date of this press release.
SOURCE Horizon Technology Finance Corporation