CION Repays $114.8 Million Israel Notes and JPMorgan Facility, Closes Joint Venture

Business Wire··USIL·Read original
2▲1 ▼0Impact / 5
Summary · why it matters

CION Investment Corporation has repaid in full $114.8 million in aggregate principal amount of its public Israel Series A Unsecured Notes due 2026 and terminated its JPMorgan credit facility, while closing a strategic joint venture. The Series A Notes, listed on the Tel Aviv Stock Exchange, were repaid at par plus accrued and unpaid interest on August 31, 2026, and its wholly-owned financing subsidiary 34th Street Funding, LLC repaid in full approximately $200 million of outstanding advances under the JPM Credit Facility with JPMorgan Chase Bank, National Association on September 25, 2026, with all security interests on the subsidiary's assets released. Separately, on September 17, 2026, the company closed a strategic joint venture with certain institutional investors to form Senior Loan Fund Partners, LLC, capitalized with $125 million in senior secured notes issued by the joint venture and $59.7 million in membership interests, with combined proceeds used to acquire a portfolio of 20 senior secured first lien loans from CION with an aggregate par of approximately $180.3 million and an aggregate fair value of $180.0 million, an implied purchase price of 99.8% of par. After giving effect to these transactions, CION's pro-forma estimated net leverage as of June 30, 2026 would have decreased to approximately 1.35x. Co-Chief Executive Officer Michael A. Reisner said the company preserved and allocated cash to implement the de-leveraging plan presented to shareholders during its second quarter earnings conference call, executed within its target date of September 30, 2026.

Impact on assets 2

Financials▲
Cion Investment Corp
CION
▲ PositiveCapitalrelevance

CION repaid $114.8M Israel notes and ~$200M JPM facility and closed a $125M JV, cutting pro-forma net leverage to ~1.35x.

Digital Finance & Tokenization▲

Off-coverage companies 2

Senior Loan Fund Partners, LLCi
Private▲ PositiveCapitalrelevance

Senior Loan Fund Partners was capitalized with $125M in senior secured notes and $59.7M of membership interests to acquire a $180.3M loan portfolio.

34th Street Funding, LLCi
Private± MixedCapitalrelevance

34th Street Funding repaid ~$200M of JPM advances and had all security interests on its assets released.