March 16, 2017
CION Investment Corporation Announces Operating Results
CION Investment Corporation Announces Operating Results March 16, 2017 | by James Sprow | Blue Vault CION Investment Corporation (“CION”), a middle market loan fund that is structured as a …

Read more

newsalert

CION Investment Corporation Announces Operating Results

March 16, 2017 | by James Sprow | Blue Vault

CION Investment Corporation (“CION”), a middle market loan fund that is structured as a non-traded business development company, provided an overview of its operating results for the year ended December 31, 2016, in a filing with the SEC on March 16.

Financial Highlights:

Total investment return-net asset value was 13.51% during the year ended December 31, 2016.  Since commencement of operations on December 17, 2012, total investment return-net asset value is 38.35%, an annualized return of 8.36%.

CION declared cash distributions to shareholders totaling approximately $77.5 million, or $0.7316 per share, during the year ended December 31, 2016, which were fully covered by taxable income, up from approximately $57.3 million, or $0.7316 per share, during the year ended December 31, 2015.

During the year ended December 31, 2016, CION decreased its gross share price once from $9.95 to $9.40 per share and increased its gross share price fourteen times from $9.40 to $10.10 per share. Subsequent to December 31, 2016, CION (i) adjusted its public offering price from $10.10 to $9.57 per share as a result of a reduction of the sales load from 10% to 5%; and (ii) increased its gross share price two times from $9.57 to $9.65 per share.

As of December 31, 2016, CION had an interest in investments in 141 portfolio companies with a fair value of $1.41 billion, of which:

93.3% were senior secured investments (58.9% first lien, 34.4% second lien); and

93.8% were floating rate investments.

didyouknow_sponsorfocus-green

Learn more about CION Investment Group on our Sponsor Focus page.

Click Here

 

Recent

Most Popular

Blue Vault Q2 2023 Performance Reports Update

Blue Vault Q2 2023 Performance Reports Update

Blue Vault Q2 2023 Performance Reports Update 10-3-2023 Blue Vault wishes to acknowledge and apologize for the delay in publishing some Q2 2023 NTR Individual Performance Pages (IPPs) as well as the full review. We recently added additional reporting metrics to our IPPs, and that, combined with coverage of all share classes and some additional…
Blue Vault Q2 2023 Performance Reports Update

Blue Vault Q2 2023 Performance Reports Update

Blue Vault Q2 2023 Performance Reports Update 9-25-2023 Blue Vault has published the Q2 2023 Nontraded BDC Industry Review as well as Individual Performance Report and Limited Operations pages for the following offerings (newly published pages in bold font): Nontraded REITS American Healthcare REIT Q2 2023 Apollo Realty Income Solutions Q2 2023 (limited operations) Ares…

Explore

Blue Vault Logo
Don’t miss alts news
and educational events

Subscribe Now