Recent Updates — CICB
CION Investment Corporation repaid in full $114.8 million of its public Israel Series A Unsecured Notes due 2026 on August 31, 2026, and terminated its senior secured credit facility with JPMorgan Chase by repaying approximately $200 million in outstanding advances on September 25, 2026. Additionally, the company closed a strategic joint venture transaction formed with institutional investors to invest primarily in senior secured first lien loans to U.S. middle-market companies. The joint venture was capitalized with $125 million in senior secured notes and $59.7 million in membership interests, using combined proceeds to acquire a portfolio of 20 first lien loans with an aggregate par value of approximately $180.3 million at fair market value. These actions reduced the company's pro-forma estimated net leverage to approximately 1.35x as of June 30, 2026. CION Investment Corporation is a publicly listed business development company that generates income by focusing primarily on senior secured loans to U.S. middle-market companies.
CION Investment Corp entered into an Amended and Restated LLC Agreement for a new joint venture, Senior Loan Fund Partners, LLC, capitalized with $125 million in senior secured notes issued to institutional investors at 98.25% of par and $59.7 million in membership interests. CION holds 80% of the common LLC interests while investors hold 20% preferred interests carrying an 11.50% cumulative annual dividend. The joint venture acquired a portfolio of 20 senior secured first lien loans from CION with an aggregate par value of approximately $180.3 million for a fair value of $180.0 million. CION received net proceeds of approximately $132.3 million to repay outstanding debt and fund general corporate purposes. The notes bear interest at SOFR plus 4.75% with a seven-year maturity, and the joint venture has a two-year investment period governed by a four-member board requiring unanimous approval for material decisions. CION Investment Management serves as administrator. This company operates in the alternative asset management industry, specifically focusing on direct lending and credit investments.
CĪON Investment Corporation announced that it will report its second quarter 2026 financial results on August 6, 2026, before market opening, followed by an earnings conference call at 11 a.m. ET. CĪON Investment Corporation is a business development company that provides debt and debt-like financing to middle-market companies.