CION Plans to Pay Down Debt With Proceeds From $150M Unsecured Notes Offering
Portfolio Pulse from Benzinga Newsdesk
CION Investment Corporation plans to pay down debt using proceeds from a $150 million unsecured notes offering. The notes, due 2029, will bear interest at 7.50% and are expected to be listed on the NYSE under the symbol 'CICB'.
September 27, 2024 | 7:08 am
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CION Investment Corporation is issuing $150 million in unsecured notes to pay down debt. The notes will mature in 2029 and bear a 7.50% interest rate. This move is aimed at reducing borrowings under its senior secured credit facility.
The issuance of unsecured notes allows CION to manage its debt more effectively by paying down existing borrowings. This could improve the company's financial stability and potentially lead to a positive short-term impact on its stock price.
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