CION Investment closes $50 million term loan with More Provident

By Wendy Van Sickle

Columbus, Ohio, April 27 – CION Investment Corp. closed a $50 million unsecured term loan facility agreement on Wednesday with More Provident Funds Ltd. as lender, according to a news release.

Advances bear interest at SOFR plus 350 basis with a 1% SOFR floor. The term loan matures on April 27, 2027 and may be repaid in whole or in part at any time at par plus a make-whole premium, if applicable.

Proceeds will be used to fund additional investments in accordance with CION’s investment objectives and for general corporate purposes.

CION is a business development company based in New York.

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