CION Inv Corp

The Company announced
that it closed an offering of $100 million in aggregate principal amount of its floating rate Senior Unsecured Notes,
Tranche B, due 2027 (the “Notes”). The Notes represent an add-on, second tranche of the 2027 Notes that were issued
by CION in November 2023.
The Notes will bear interest at a floating rate equal to the three-month Secured Overnight Financing Rate (“SOFR”)
plus a credit spread of 3.90% per year and subject to a 2.00% SOFR floor, which will be paid quarterly commencing
on November 15, 2024. The Notes will mature on November 8, 2027 and may be redeemed in whole or in part at
CION’s option at par plus a “make-whole” premium, if applicable. The Notes will be general, unsecured obligations
and rank equal in right of payment with all of CION’s existing and future unsecured indebtedness. The Notes are rated
investment grade. As of 2024-09-23, the Fund’s leverage was 59.7% and Debt Focused BDC Group leverage was 50.3%.

2024-09-23T00:00:00-04:00September 23rd, 2024|

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