CION Investment Corp

CION Investment Corp. operates as a non-trading business development company. The firm invests in senior secured debt of U.S. middle market companies, including unitranche, second lien, long-term subordinated and mezzanine loans, and equity interests such as warrants or options and corporate bonds, and other debt securities in middle-market companies. It also invests in the secondary loan market. The company was founded on August 9, 2011 and is headquartered in New York, NY.

Earnings data Q3 2021

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CION Investment Corp posts strong Q1 earnings, eyes growth opportunities

CION Investment Corp reported a robust Q1 2024 performance, driven by strong net investment income and portfolio growth. Despite challenges in larger capital loan markets, the company's focus on the middle market and disciplined investment strategies have proven effective. With plans to extend debt facilities and capitalize on growth opportunities, CION remains well-positioned for future success.

CION Investment Corp reports resilient performance amidst credit challenges

CION Investment Corp navigated the competitive credit environment well, reporting satisfactory results for Q3 2024.
Despite challenges in credit risk management and portfolio valuation, the company's strategic focus on income generation and prudent investments remains a strength.
Opportunities lie in the rebuilding deal pipeline and strategic portfolio activities, offering potential for growth and optimization in the future.

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Income-focused investors could consider CION Investment Corporation for its high yields, but there are definitely risks to consider. CION offers a 12.55% dividend yield and trades at a significant discount of over 27% to its last reported net asset value per share. One of the risks includes higher relative non-accruals and significant payment-in-kind income, though they add that PIK is part of their overall strategy.

CION Investment Corporation: Deep Discount And Tempting Yield But Riskier

NEW YORK--(BUSINESS WIRE)--CION Investment Corporation (NYSE: CION) (“CION”) today announced that it has declared a special distribution for the year ending December 31, 2024 in the amount of $0.05 per share, payable on January 27, 2025 to shareholders of record as of December 30, 2024, which results in total distributions declared in 2024 of $1.52 per share. The special distribution represents a portion of the Company's investment company taxable income generated through the course of the year.

CION Investment Corporation Announces Year-End Special Distribution of $0.05 Per Share

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Private credit/BDC investments offer exposure to structural growth and a significant portfolio yield enhancement. Yet, we have to be extra careful of not falling into value traps and investing in unsustainable yields, which are abundant in the inherently risky sector. In this article, I share a BDC portfolio that has ~10.5% yield, healthier fundamentals than the average in the space, and, importantly, meaningful price appreciation potential.

Invest In $95,000 BDC Portfolio For $10,000 Annual Income And Durable Compounding

CION Investment offers a high regular dividend yield exceeding 12%, supported by a solid dividend coverage of 124%, despite sensitivity to interest rate changes. The company primarily invests in first-lien debt, ensuring high repayment priority, but has seen a slight increase in non-accruals to 1.8% at fair value. CION's valuation is attractive due to trading at a discount to its Net Asset Value, though this raises concerns about its capital-gathering effectiveness.

CION Investment: Double-Digit Yield Is Safer Than It Seems

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Sky-high dividends of 13-14% are appealing but often come with significant risks. I discuss two stocks that have fully covered 13% and 14% yields that have a lot going for them and look deeply undervalued. However, I believe their dividends are at risk of getting cut soon.

Dividend Cut Alert: 13-14% Yields Getting Too Risky

CION Investment Corporation is a deeply discounted high yield play. The market is concerned about CION's PIK and portfolio volatility. Looking at the fundamentals, I simply can't rationalize the ~27% discount to NAV.

CION Investment Corporation: 12.5% Yield, P/NAV Of 0.73x Makes It A Buy

CION Investment Corporation (NYSE:CION ) Q3 2024 Earnings Conference Call November 7, 2024 11:00 AM ET Company Participants Charlie Arestia - Managing Director and Head, Investor Relations Mark Gatto - Co-Chief Executive Officer Gregg Bresner - President and CIO Keith Franz - Chief Financial Officer Conference Call Participants Operator Greetings. And welcome to the CION Investment Corporation's Third Quarter 2024 Conference Call.

CION Investment Corporation (CION) Q3 2024 Earnings Call Transcript

NEW YORK--(BUSINESS WIRE)--CION Investment Corporation (NYSE: CION) (“CION” or the “Company”) today reported financial results for the third quarter ended September 30, 2024 and filed its Form 10-Q with the U.S. Securities and Exchange Commission. CION also announced that, on November 4, 2024, its co-chief executive officers declared a fourth quarter 2024 base distribution of $0.36 per share, payable on December 16, 2024 to shareholders of record as of December 2, 2024. THIRD QUARTER AND OTHER.

CION Investment Corporation Reports Third Quarter 2024 Financial Results

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September saw two new convertible preferred stock offerings, one term preferred offering, and one Exchange Traded Debt (ETD) offering, with yields ranging from 6% to 8.125%. Here is a comparison against the highest quality preferred stocks in our coverage universe, as ranked by our internal “CDx3 Compliance Score” metric: CDx3 preferreds ranked 10 out of 10 are meanwhile selling for an average premium to par of about 7 cents and offer an average current yield of 6.23%.

New Preferred Stock And Exchange Traded Debt IPOs, October 2024

CION Investment Corp. and Chicago Atlantic BDC are overlooked small-cap BDCs that offer high yields for dividend investors. CION has strong fundamentals, solid dividend coverage, and trades at a 26% discount to NAV, making it an attractive entry point. Chicago Atlantic BDC, the only cannabis-focused BDC, has diversified its portfolio, boasts a clean balance sheet, and trades at a slight discount.

2 BDCs Everyone Seems To Overlook

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Invest In All Weather BDC Dividend Portfolio

I have been bearish on BDCs for a while, and this caution has paid off. However, some good news just arrived for the sector. I discuss what this is and share some of my top picks of the moment in light of this good news.

Good News For BDCs

NEW YORK--(BUSINESS WIRE)--CION Investment Corporation (NYSE: CION) (“CION”) announced today that it will report its financial results for the third quarter ended September 30, 2024 on Thursday, November 7, 2024, prior to the opening of the financial markets. CION will discuss those results in an earnings conference call at 11:00 a.m. ET that same day. Participant Dial-in Numbers: Domestic (Toll-Free): 877-484-6065 International (Toll): +1 201-689-8846 All participants are asked to dial in appr.

CION Investment Corporation Schedules 2024 Third Quarter Earnings Release and Conference Call

CION Investment Corp remains undervalued, trading at a 34% discount to its NAV despite solid fundamentals and solid dividend coverage. The BDC's smaller size and shorter track record may be a contributor to its market mispricing compared to larger, more established peers. CION's portfolio performance has been resilient, with high credit quality and decreasing non-accruals year-over-year, despite higher for longer interest rates.

CION Investment Corp: A Quality BDC Worth Buying, Although Upside May Be Limited

NEW YORK--(BUSINESS WIRE)--CION Investment Corporation (NYSE: CION) (the “Company” or “CION”) announced today that it has priced an underwritten public offering of $150.0 million aggregate principal amount of unsecured notes due 2029 (the “Notes”), which will result in net proceeds to the Company of approximately $145.4 million after the payment of underwriting discounts and commissions and estimated offering expenses payable by the Company. The Notes will mature on December 30, 2029 and may be.

CION Investment Corporation Announces Pricing of Public Offering of Unsecured Notes Due 2029

NEW YORK--(BUSINESS WIRE)---- $CION #BDC--CION Investment Corporation (NYSE: CION) (“CION”) announced today that it closed an offering of $100 million in aggregate principal amount of its floating rate Senior Unsecured Notes, Tranche B, due 2027 (the “Notes”). The Notes represent an add-on, second tranche of the 2027 Notes that were issued by CION in November 2023. The Notes will bear interest at a floating rate equal to the three-month Secured Overnight Financing Rate (“SOFR”) plus a credit spread of 3.90% p.

CION Investment Corporation Announces the Issuance of Additional $100 Million Floating Rate Senior Unsecured Notes due 2027

This is not the right time to take high risk in the BDC space. Yet, as it is often the case, a challenging environment creates opportunities. In this article, I elaborate on two BDCs which indeed have some risks, but not to the extent that is currently priced in by the market.

2 BDCs At Discounts Of ~20% With Attractive Asymmetric Profiles

CION Investment Corporation operates as a business development company that generates its earnings through a diverse portfolio of debt investments. CION offers a high dividend yield of 13.8%, making it an excellent option for income-focused investors. Despite potential short-term earnings impact from lower interest rates, CION's focus on first-lien senior secured debt supports long-term portfolio growth.

CION Investment Corporation: 2 Possible Outcomes From Interest Rate Cuts

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Dividend Cut Alert: Bad News For BDCs

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In the current environment, it is indeed difficult for BDCs to achieve premium over NAV. However, as the earnings and dividends continue to remain strong in the sector, I see no reason for significant discounts to NAV. In this article, I have identified two BDCs, which trade at a steep discount to their net asset values despite robust fundamentals. It clearly provides an opportunity for investors.

2 BDCs With Unjustified Discount Of 10% Or Greater

CION Investment Corporation focuses on established, cash-generating companies with annual EBITDA between $20-$75 million and has an NAV base of $861 million. It is interesting due to a P/NAV discount of 0.74x and similarities with FS KKR Capital, my top BDC pick for 2024. At the core, CION has a robust portfolio quality underpinned by very healthy credit statistics and an immaterial non-accrual base.

CION Investment Corporation: Sound BDC With De-Risked Base Dividend Yield Of 11.6%

CION Investment Corporation (NYSE:CION ) Q2 2024 Results Conference Call August 8, 2024 11:00 AM ET Company Participants Charlie Arestia - MD and Head of Investor Relations Mark Gatto - Co-Founder & Co-Chief Executive Officer Gregg Bresner - President & Chief Investment Officer Keith Franz - Chief Financial Officer Conference Call Participants Erik Zwick - Lucid Capital Finian O'Shea - Wells Fargo Securities Operator Greetings, and welcome to the CION Investment Corporation Second Quarter 2024 Conference Call. [Operator Instructions].

CION Investment Corporation (CION) Q2 2024 Earnings Call Transcript

NEW YORK--(BUSINESS WIRE)--CION Investment Corporation (NYSE: CION) (“CION” or the “Company”) today reported financial results for the second quarter ended June 30, 2024 and filed its Form 10-Q with the U.S. Securities and Exchange Commission. CION also announced that, on August 5, 2024, its co-chief executive officers declared a third quarter 2024 base distribution of $0.36 per share, payable on September 17, 2024 to shareholders of record as of September 3, 2024. SECOND QUARTER AND OTHER HIGH.

CION Investment Corporation Reports Second Quarter 2024 Financial Results

NEW YORK--(BUSINESS WIRE)--CION Investment Corporation (NYSE: CION) (“CION”) announced today that it has amended and extended its $675 million senior secured credit facility with JPMorgan Chase Bank, National Association. Under the amendment, the credit spread on the floating interest rate payable on all borrowings was reduced 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 2.55% per year. Also under the amend.

CION Investment Corporation Amends and Extends Its Senior Secured Credit Facility, Providing Improved Economic Terms and More Constructive Operating Provisions

News for CION Investment Corp ETF (CION)