CION unit 34th Street Funding increases loan to $675 million

By Wendy Van Sickle

Columbus, Ohio, March 29 – 34th Street Funding, LLC, wholly owned special purpose financing subsidiary of CION Investment Corp., amended 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 amendment, the principal amount available for borrowings was increased to $675 million from $575 million.

Additional advances of up to $100 million under the amended loan agreement will bear interest at SOFR plus a credit-spread adjustment of 15 basis points plus 310 bps.

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

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

CION Investment Management, LLC is the portfolio manager.

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

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