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Horizon Technology Finance Announces Pricing of Loan Securitization
Transaction Summary
Horizon Q3 2019 Securitization Expected Proceeds (in millions)
Q3 2019 |
||||
Principal balance sold |
$ |
100.0 |
||
Reserve account funding |
($ |
1.2) |
||
Total proceeds before fees and expenses |
$ |
98.8 |
||
Principal Balance
Reserve Account Funding
The company expects to fund a reserve account in an amount equal to 0.75% of the principal balance as additional credit enhancement for the rated notes.
Fees and Expenses
Fees and expenses for the transaction are expected to include underwriting fees and other transaction expenses.
The transaction is scheduled to close on August 13, 2019, subject to customary closing conditions.
The notes will not be registered under the Securities Act of 1933, as amended (the "Securities Act" ), or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from, or a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The notes were offered and are only being sold to qualified institutional buyers under Rule 144A under the Securities Act and to persons outside the United States pursuant to Regulation S under the Securities Act.
This press release is not an offer to sell, nor a solicitation of an offer to buy, any securities, nor shall there be any sale of these securities in any state or jurisdiction in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
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Forward-Looking Statements
Statements included herein may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in Horizon's filings with the
Contacts:
Investor Relations:
ICR
ir@horizontechfinance.com
(860) 284-6450
Media Relations:
ICR
brian.ruby@icrinc.com
(203) 682-8268
View original content:http://www.prnewswire.com/news-releases/horizon-technology-finance-announces-pricing-of-loan-securitization-300896055.html
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