Horizon Technology Finance Receives Commitment for New $150 Million Accordion Credit Facility With Initial $75 Million Commitment From Wells Fargo Capital Finance

Horizon Technology Finance Corporation HRZN today announced that it has received a commitment for a new credit facility up to $150 million with an initial commitment of $75 million from Wells Fargo Capital Finance, part of Wells Fargo & Company WFC. The credit facility contains an "accordion" feature which would allow additional lenders to join the facility with increased commitments up to an aggregate of $150 million. After consummation of the credit facility, there can be no assurances that additional lenders would join the credit facility. Amounts borrowed under the credit facility will bear interest at LIBOR plus 4.00%, with a floor of 5.00% and an advance rate of 50% against eligible loans. Robert D. Pomeroy, Jr., Chairman and Chief Executive Officer, commented, "We are pleased to receive a commitment for a new credit facility of up to $150 million. Upon closing, the facility will immediately allow us to leverage existing investments and provide us with additional capital to deploy into new portfolio assets. By continuing to execute on our leverage strategy, we expect to grow our high-quality portfolio and enhance our future earnings and dividend growth."