trending Market Intelligence /marketintelligence/en/news-insights/trending/4f7e2vm8ps9rtoz_pngqbg2 content esgSubNav
In This List

CĪON Investment unit increases available borrowings under credit facility

Podcast

Street Talk Episode 87

Blog

A New Dawn for European Bank M&A Top 5 Trends

Blog

Insight Weekly: US banks' loan growth; record share buybacks; utility M&A outlook

Blog

Banking Essentials Newsletter 2021: December Edition


CĪON Investment unit increases available borrowings under credit facility

CION Investment Corp special purpose financing subsidiary 34th Street Funding LLC amended a loan agreement to increase the amount available for borrowings from $225 million to $275 million, of which $25 million may be funded as a revolving credit facility.

Also, advances now bear interest at a floating rate equal to the three-month London Interbank Offered Rate plus a spread of 3.0% per year — down from a spread of 3.5%.

In addition, the reinvestment period was extended for one year with a new scheduled maturity date of Aug. 24, 2021.

34th Street Funding entered into the amended loan agreement with JPMorgan Chase Bank NA, as lender and administrative agent; U.S. Bank NA, as collateral agent, collateral administrator and securities intermediary; and CION Investment Management LLC, CION Investment's investment adviser, as portfolio manager.