Welcome to our dedicated page for Cion Invt news (Ticker: CION), a resource for investors and traders seeking the latest updates and insights on Cion Invt stock.
CION Investment Corporation (CION) delivers essential financing solutions to U.S. middle-market companies through senior secured debt and structured products. This news hub provides investors and financial professionals with timely updates on corporate developments, regulatory filings, and market positioning.
Access comprehensive coverage of earnings announcements, portfolio company updates, and strategic initiatives. Our curated collection features official press releases, debt offering details, and management commentary - all critical for understanding CION's role in alternative investments and business development.
Key updates include dividend declarations, credit facility expansions, and portfolio performance metrics. Bookmark this page for direct access to SEC filings, investor presentations, and analysis of CION's middle-market lending activities. Regular updates ensure you maintain current awareness of this BDC's evolving market position.
CION Investment (NYSE: CION) has successfully amended and extended its $675 million senior secured credit facility with JPMorgan Chase Bank. The amendment brings improved economic terms and more favorable operating provisions. Key changes include:
1. Reduction in credit spread from SOFR + 3.20% to SOFR + 2.55% per year
2. Extension of reinvestment period from July 15, 2024 to June 15, 2026
3. Extension of maturity date from May 15, 2025 to June 15, 2027
CION's CFO, Keith Franz, highlighted the strategic importance of the partnership with JPMorgan and the benefits of the amended facility, including reduced cost of capital and increased financial flexibility.
CION Investment (NYSE: CION) has announced it will release its financial results for the second quarter ending June 30, 2024, on Thursday, August 8, 2024, prior to market opening.
The results will be discussed in an earnings conference call scheduled for 11:00 a.m. ET on the same day. Stakeholders can join via domestic toll-free number 877-484-6065 or international toll +1 201-689-8846, with instructions to dial in 10 minutes early.
A slide presentation will be accessible in the Investor Resources section of CION’s website, and a webcast registration link is available for those interested. The recording of the call will be available shortly after its conclusion.
CION Investment (NYSE: CION) has declared a mid-year supplemental distribution of $0.05 per share for the period ending June 30, 2024. This distribution will be payable on July 12, 2024, to shareholders of record as of June 28, 2024. This announcement brings the total distributions declared in the first half of 2024 to $0.75 per share. According to Michael A. Reisner, co-CEO of CION, the supplemental distribution is a result of the sustained performance of their conservatively positioned investment portfolio and reflects their success in executing their long-term strategy aimed at generating attractive returns for shareholders.
CION Investment reported strong financial results for the first quarter of 2024, including record quarterly net investment income and an increased base distribution for the second quarter. The company's net investment income and earnings per share were $0.60 and $0.12, respectively. The net asset value per share decreased slightly to $16.05. The company's total investments at fair value amounted to $1.74 billion across 109 portfolio companies. During the quarter, the company funded new investment commitments of $107 million and had sales and repayments totaling $207 million. Investments on non-accrual status decreased compared to the previous quarter. The company also repurchased shares of its common stock. CION announced a second quarter 2024 base distribution of $0.36 per share, representing a 5.9% increase from the first quarter distribution.
CION Ares Diversified Credit Fund, a joint venture between CION Investments and Ares Management , has surpassed $5 billion in total assets under management. The Fund offers investors direct access to alternative credit opportunities, providing income, stability, and lower portfolio volatility through diversification. CADC invests in a mix of illiquid and liquid credit investments, aiming for superior risk-adjusted returns. The Fund is distributed through various channels, catering to individual investors seeking alternative investment options.
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