Cion Investment Corporation Announces Closing Of A $50 Million Senior Unsecured Term Loan And The Recent Upsize Of Its Senior Secured Credit Facility To $675 Million
Cion Investment Corporation Announces Closing Of A $50 Million Senior Unsecured Term Loan And The Recent Upsize Of Its Senior Secured Credit Facility To $675 Million
04/27/22, 8:05 PM
Location
new yorkMoney raised
$50 million
Industry
financial services
CION Investment Corporation (NYSE: CION) (“CION” or the “Company”) today announced that on April 27, 2022, it closed a senior unsecured term loan in the aggregate principal amount of $50 million (the “More Term Loan”) with More Provident Funds and Pension Ltd., as lender. The net proceeds to the Company were approximately $49 million, after deducting payment of fees and other financing expenses, which the Company intends to use to fund additional investments in accordance with its investment objectives and for general corporate purposes.
Company Info
Location
new york, united states
Additional Info
CION Investment Corporation is a leading publicly listed business development company that had approximately $1.8 billion in assets as of December 31, 2021. CION seeks to generate current income and, to a lesser extent, capital appreciation for investors by focusing primarily on senior secured loans to U.S. middle-market companies. CION is advised by CION Investment Management, LLC, a registered investment adviser and an affiliate of CION. For more information, please visit www.cionbdc.com.