Loan & DebtJul 16, 2026, 04:14 PM
CION Issues $60M Senior Unsecured Notes Due 2029 & 2031
AI Summary
CION Investment Corp. entered into agreements to issue up to $60 million in senior unsecured notes. This includes up to $10 million of 7.50% notes due 2029 and up to $50 million of 8.00% notes due 2031. An initial closing of $30 million occurred on July 15, 2026, with a potential subsequent closing of another $30 million within one year. The company intends to use the net proceeds to repay outstanding debt and for general corporate purposes, aligning with its capital management strategy to optimize its balance sheet and reduce leverage.
Key Highlights
- Issued up to $10,000,000 of 7.50% senior unsecured notes due 2029.
- Issued up to $50,000,000 of 8.00% senior unsecured notes due 2031.
- Initial closing on July 15, 2026, totaled $30,000,000.
- Potential subsequent closing of up to $30,000,000 within one year.
- 2029 Notes issued at a purchase price of 98.00% of principal amount.
- 2031 Notes issued at a purchase price of 97.00% of principal amount.
- Proceeds to repay outstanding debt and for general corporate purposes.
- Covenants include a minimum asset coverage ratio of not less than 150%.
Price Impact
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