Horizon lifts revolver by $25 million with MUFG Union Bank commitment

By Tali Rackner

Norfolk, Va., April 27 – Horizon Technology Finance Corp. announced that wholly owned subsidiary Horizon Credit II LLC increased its syndicated revolving credit facility with KeyBank NA to $95 million, according to a press release.

The addition comes from a $25 million commitment by new lender MUFG Union Bank, NA.

The credit facility has an accordion feature that allows for an increase in the total loan commitment to $150 million.

“We are pleased to add Union Bank to our credit facility which further enhances our borrowing capacity and allows us to leverage existing investments and expand our investment portfolio by originating high-quality loans,” senior vice president and chief financial officer Christopher M. Mathieu said in the release.

“Horizon appreciates its excellent relationship with Key, its lead lender, whose syndication efforts brought another respected bank to join our credit facility. We look forward to working with Union Bank as Horizon remains focused on executing its core investment strategy.”

Farmington, Conn.-based Horizon is a specialty finance company that lends to and invests in development-stage companies in the technology, life science, clean-tech and health care information and services industries.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.