Horizon Technology Finance Corp. says its newly formed subsidiary issued $100 million in secured debt, proceeds from which will fund more of the Farmington specialty financier’s loans to technology startups.
Horizon Funding Trust 2019-1 issued unregistered notes that Horizon said Tuesday were rated “A+” by Morningstar Inc. Collateral is $160 million of secured loans that Horizon says it originated.
KeyBanc Capital Markets was sole placement agent and initial buyer of the notes bearing fixed interest of 4.2 percent annually and a Sept. 15, 2027 maturity. Horizon identified itself as the issue’s sponsor, seller and servicer.
Horizon Tech lends to venture-capital backed tech startups in the life-sciences, cleantech and health information and services sectors.
