Horizon Technology (HRZN) has issued an announcement.
Horizon Funding II, LLC, a subsidiary of Horizon Technology Finance Corporation, secured a flexible credit facility allowing for up to $200 million in funding through a series of agreements, including the issuance of up to $100 million of senior secured notes. This financial maneuver, structured with U.S. Bank Trust Company and U.S. Bank National Association, features an interest rate tied to treasury yield benchmarks with a minimum threshold of 5.00%. The credit facility has a one-year funding period and a three-year reinvestment period, indicating a strategic move by the Company to strengthen its financial position and support its operations.
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