Horizon Technology Finance Corporation, 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 sustainability industries, announced that Horizon Secured Loan Fund I LLC, Horizon's wholly-owned subsidiary ("HSLF"), has amended and extended its $100 million senior secured debt facility with a large U.S. based insurance company, pursuant to which HSLF may issue up to $100 million of secured notes.

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, payable monthly, at the greater of the fixed interest rate of 4.60% or the three-year USD mid-market swap rate plus 3.55%.  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.

"We are pleased with the closing of the amended facility, as it will provide us with $100 million of additional lending capacity and significant flexibility to further grow our portfolio with low cost capital," said Daniel R. Trolio, Senior Vice President and Chief Financial Officer of Horizon. "This facility also allows us to further diversify our balance sheet and sources of debt to maximize our capital efficiency and make new portfolio investments. We believe we are in a strong position to continue delivering value to our shareholders."