Horizon amends and extends $100 million senior secured debt facility

By Devika Patel

Knoxville, Tenn., June 26 – Horizon Technology Finance Corp. subsidiary Horizon Secured Loan Fund I LLC has amended and extended a $100 million senior secured debt facility, according to a 424B3 filing with the Securities and Exchange Commission.

The facility has a two-year investment period and a maximum advance rate of 67% based on the number of obligors.

Initially, borrowings bear interest at the greater of the fixed interest rate of 4.6% or the three-year mid-market swap rate plus 355 basis points.

The ongoing interest rate may be adjusted based on the rating assigned to the facility by DBRS, Inc.

The facility is collateralized by certain of the company’s assets and matures in June 2027.

Horizon is a Farmington, Conn.-based specialty finance company.

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