BB&T Capital Markets Serves as a Co-Manager on Horizon Technology Finance Corporation’s Retail Notes Offering
BB&T Capital Markets’ Financial Services Group, serving as a co-manager, completed a retail notes “baby bond” offering for Horizon Technology Finance Corporation, in the third quarter of 2017. The underwriters helped to raise $32,500,000 in gross proceeds for our client. The notes will trade under the symbol of HTFA, pay an annual interest rate of 6.250%, and mature in 5 years.
HRZN intends to use the net proceeds from this offering to redeem its outstanding indebtedness under its 7.375% notes due in 2019, and for general corporate purposes. The Company has granted the underwriters a 30-day over-allotment option.
About the Companies
Horizon Technology Finance Corporation is a leading specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and cleantech industries. Headquartered in Farmington, Connecticut, Horizon has regional offices in Pleasanton, California, Reston, Virginia and Boston, Massachusetts.
BB&T Capital Markets Financial Services Group has extensive experience providing community banks and thrifts, business development companies, and other specialty finance companies with a full range of public and private capital raising solutions, M&A advisory, fairness opinions and other strategic advisory services.
About BB&T Capital Markets
BB&T Capital Markets offers an integrated platform of equity and debt underwriting, M&A advisory, corporate banking, and sales and trading. Headquartered in Richmond, VA, with offices throughout the US, we have specific expertise within 10 distinct industry verticals including Automotive Aftermarket; Commercial & Industrial; Education; Energy; Financial Services; Food & Agribusiness; Healthcare; Logistics & Transportation Services; Real Estate; and Retail & Consumer. Our commitment to industry expertise, combined with our resources as one of the nation's strongest financial institutions, strategically positions BB&T Capital Markets to build lasting relationships and contribute measurably to the long-term success of our clients.