CION unit 34th Street Funding amends and extends loan to May 2024

Chicago, March 1 – 34th Street Funding, LLC, wholly owned special purpose financing subsidiary of CION Investment Corp., amended and extended its loan with JPMorgan Chase Bank, NA as lender and administrative agent on Friday, according to an 8-K filing with the Securities and Exchange Commission.

Under the third amended loan agreement, borrowings were reduced to $575 million from $700 million, and the maturity date was extended to May 15, 2024 from May 15, 2023.

Additionally, advances under the amended loan agreement will now bear interest at Libor plus 310 basis points, reduced from Libor plus 325 bps.

No other material terms of the agreement were revised in connection with the amended loan.

U.S. Bank NA is the collateral agent, collateral administrator and securities intermediary.

CION Investment Management, LLC is the portfolio manager.

CION Investment Management, LLC, part of New York-based ICON, is the investment adviser.

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