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Stock impact report

CION Investment Corporation Enters Into a New Three-Year $125 Million Loan Agreement With UBS

CION Investment Corporation (CION) 
Company Research Source: Business Wire
Provides Improved Economic Terms and More Constructive Operating Provisions NEW YORK--(BUSINESS WIRE)--CION Investment Corporation (NYSE: CION) (“CION”) announced today that it has terminated its existing senior secured repurchase facility with UBS AG, London Branch (“UBS”) and simultaneously entered into a new senior secured credit facility with UBS.Under the new $125 million senior secured credit facility, the credit spread on the floating interest rate payable by CION on all advances was reduced by 45 basis points, from the three-month Secured Overnight Financing Rate (“SOFR”) plus a credit spread of 3.20% per year to SOFR plus a credit spread of 2.75% per year. All outstanding advances must be repaid by the final maturity date of February 13, 2028. CION incurred certain customary costs and expenses in connection with these transactions.ABOUT CION INVESTMENT CORPORATIONCION Investment Corporation is a leading publicly listed business development company that had approximately $1 Show less Read more
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