By Cristal Cody
Tupelo, Miss., Aug. 5 – Horizon Technology Finance Corp. subsidiary Horizon Funding Trust 2019-1 LLC (Morningstar: A+) priced a $160 million asset-backed loan securitization transaction, according to a news release and a market source on Monday.
The $100 million securitization deal has a maturity of Sept. 15, 2027 and carries a 4.21% coupon.
The company expects to receive proceeds of $98.8 million before fees and expenses following the sale of the $160 million pool of loans, which are across the full credit spectrum.
Horizon Technology Finance said it intends to fund a reserve account in an amount equal to 0.75% of the principal balance as additional credit enhancement for the rated notes.
KeyBanc Capital Markets Inc. was the deal arranger.
The Farmington, Conn.-based specialty finance company provides secured loans to venture capital and private equity backed development-stage companies in the technology, life science, health care information and services and clean-tech industries.
Issuer: | Horizon Funding Trust 2019-1 LLC
|
Amount: | $100 million
|
Securities: | Loans
|
Maturity: | Sept. 15, 2027
|
Structure: | Asset-backed loan securitization
|
Placement agent: | KeyBanc Capital Markets Inc.
|
Manager: | Horizon Technology Finance Corp.
|
Coupon: | 4.21%
|
Announcement date: | Aug. 5
|
Settlement date: | Aug. 13
|
Rating: | Morningstar: A+
|
Distribution: | Rule 144A and Regulation S
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.