April 11, 2018

Horizon Tech inks $100M KeyBank credit line

Farmington specialty lender Horizon Technology finance Corp. says it signed with Ohio's KeyBank for a five-year, $100 million revolving credit line to continue funding venture loans to technology, life-sciences, health-information and data, and clean-technologies startups.

Horizon Tech Chief Financial Officer Daniel R. Trolio said Tuesday the Cleveland lender extended Horizon's revolving period to April 6, 2021, and set a maturity date of April 6, 2023.

An "accordion feature'' of the credit line could push KeyBank's total loan commitment to $150 million, Trolio said.

In 2012, Horizon inked a $75 million term-loan facility, good for three years, plus extensions, with Fortress Credit Co. LLC.

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