CION Investment Exits Repurchase Facility and Enters New Agreement with UBS

On February 19, 2025, financial services provider CĪON Investment Corporation (NYSE:CION) made significant moves by terminating its existing senior secured repurchase facility with UBS AG, London Branch. Simultaneously, CĪON entered into a new agreement with UBS through its subsidiary, Murray Hill Funding II, LLC.

The termination agreement, signed on February 13, 2025, outlined the conclusion of the repurchase facility with UBS, including the Global Master Repurchase Agreement dated May 15, 2017, and related agreements. Furthermore, Murray Hill Funding II secured a new Loan and Security Agreement with UBS, involving a reduced floating interest rate on advances up to $125,000,000 and an extended maturity date of February 13, 2028.

CĪON Investment had previously contributed loans and corporate debt securities to Murray Hill Funding II in exchange for membership interests. Under the new Loan Agreement, Murray Hill Funding II is obligated to adhere to borrowing base requirements, covenants, and reporting standards.

While the details of the agreements were summarized in the Form 8-K filing, CĪON Investment and UBS also released a press statement highlighting the enhanced economic terms and operational provisions of the new credit facility. The credit spread for the floating interest rate was reduced by 45 basis points, leading to improved cost implications for CĪON.

CĪON Investment Corporation, with assets totaling approximately $1.9 billion as of September 30, 2024, primarily focuses on generating current income and capital appreciation through investments in senior secured loans to U.S. middle-market companies. The company’s affiliate, CĪON Investment Management, LLC, acts as its investment adviser.

This update provides insight into CĪON Investment Corporation’s strategic financial decisions, underlining its commitment to optimizing capital structures and enhancing operational efficiencies through refinanced credit facilities. Investors and stakeholders are encouraged to review the detailed agreements filed with the Securities and Exchange Commission for comprehensive information.

Please note that the contents are based on the details disclosed in the official 8-K filing by CĪON Investment Corporation. Readers are advised to refer to the original filing and related exhibits for precise details and implications of the agreements.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read CION Investment’s 8K filing here.

CION Investment Company Profile

CION Investment Corporation is a business development company. It specializes in investments in senior secured loans, including unitranche loans, First Lien, second lien loans, long-term subordinated loans, and mezzanine loans; equity interests such as warrants or options; and corporate bonds; and other debt securities in middle-market companies.