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MUFG Union Joins Lenders in Horizon’s $95MM Credit Facility

April 28, 2016, 07:38 AM
Filed Under: Lender Finance

Horizon Technology Finance announced that its wholly owned subsidiary, Horizon Credit II LLC, has increased the size of its syndicated revolving credit facilityled by KeyBank National Association. Horizon increased the size of the credit dacility to $95 million by adding a new lender, with MUFG Union Bank, N.A. committing $25 million. The credit facility has an accordion feature which allows for an increase in the total loan commitment to $150 million. There can be no assurance that any additional lenders will make any commitments under the credit facility.

"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," said Christopher M. Mathieu, Senior Vice President and Chief Financial Officer. "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."

Horizon Technology Finance Corporation is 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 cleantech industries.

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