Horizon Credit II, the subsidiary of specialty finance company Horizon Technology Finance, amended its syndicated revolving credit facility led by KeyBank.
The amendment increases the aggregate commitments to $100 million and extends the revolving period to April 6, 2021 and maturity date to April 6, 2023. The facility has an accordion feature which allows for an increase in the total loan commitment to $150 million. There are no assurances that any additional lenders will make any commitments under the facility.
“We appreciate Key’s ongoing support and confidence in Horizon and are pleased to increase the commitment of our credit facility,” said Daniel R. Trolio, senior vice president and chief financial officer at Horizon. “The amended facility strengthens Horizon’s ability to capitalize on compelling opportunities, as we seek to maintain our high portfolio yield and grow net investment income in a disciplined manner.”
Horizon Technology Finance 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.