Horizon Technology Finance announced that Horizon Secured Loan Fund I LLC, Horizon's wholly-owned subsidiary ("HSLF"), has amended its senior secured debt facility with a large U.S. based insurance company. Under the amended agreement, the commitment to HSLF has increased by $100 million to enable HSLF to issue up to $200 million of secured notes.

The amendment to the credit facility extends the investment period to June 2023 and the maturity date to June 2028. In addition, the amendment, among other things, reduces the applicable margin used to calculate the credit facility's interest rate on the Company's borrowings above $100 million. Such borrowings will be priced at the three-year USD mid-market swap rate plus 3.00%. The facility is collateralized by certain of the Company's assets.

"We are pleased to further strengthen our capital resources and expand our lending capacity, enabling us to further grow our venture debt portfolio while reducing our cost of capital," said Daniel R. Trolio, Executive Vice President and Chief Financial Officer of Horizon. "We look forward to utilizing this facility to deploy capital resources more efficiently and to continue diversifying our sources of debt. We believe we remain strongly positioned to continue delivering value to our shareholders."