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Horizon Technology Finance Announces Completion of $160 Million Loan Securitization
FARMINGTON, Conn., Aug. 13, 2019 /PRNewswire/ -- Horizon Technology Finance Corporation (NASDAQ: HRZN) ("Horizon" or the "Company"), a leading specialty
About this update from Horizon Technology Finance Corporation
[{"type":"text","content":"FARMINGTON, Conn., Aug. 13, 2019 /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 venture capital backed companies in the technology, life science, healthcare information and services and cleantech industries, today announced that Horizon Funding Trust 2019-1, a newly-formed wholly-owned subsidiary of Horizon, has issued $100 million of Notes (the \"Notes\") rated A+ by Morningstar, Inc. and which is backed by $160 million of secured loans originated by Horizon.\nKeyBanc Capital Markets served as sole Placement Agent and Initial Purchaser of the Notes, and Horizon is the Sponsor, Seller and Servicer for the transaction. The Notes bear interest at a fixed interest rate of 4.21% per annum and have a stated maturity date of September 15, 2027. \n\"We are pleased to successfully complete this transaction, which further reduces our cost of capital, increases our overall capacity to originate new venture debt loans, and positions us to further grow our portfolio,\" said Daniel R. Trolio, Senior Vice President and Chief Financial Officer of Horizon. \"We remain committed and well positioned to deliver additional long-term value to our shareholders.\"\nThe Notes have not been, and will not be, registered under the Securities Act of 1933, as amended (the \"Securities Act\"), or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from, or a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. \nAbout Horizon Technology Finance\nHorizon Technology Finance Corporation (NASDAQ: HRZN) is a leading specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and cleantech industries. The investment objective of Horizon is to maximize its investment portfolio's return by generating current income from the debt investments it makes and capital appreciation from the warrants it receives when making such debt investments. Headquartered in Farmington, Connecticut, Horizon also has regional offices in Pleasanton, California, Reston, Virginia and Bosto...