CION Investment Corp issues up to $60M in senior unsecured notes; initial $30M closed

CION Investment Corp

Initial closing of $30M: $2M of 7.50% notes due 2029 and $28M of 8.00% notes due 2031.
Notes issued at discount: 2029 at 98% of par, 2031 at 97% of par.
Proceeds to repay outstanding debt and for working capital and general corporate purposes.
Covenants include minimum equity $493.1M, asset coverage 150%, interest coverage 1.25x.
Subsequent closing of up to $30M possible within one year at purchasers' discretion.

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