CION forms JV with investors, sells $180M loan portfolio for ~$132M net proceeds

CION Investment Corp

JV capitalized with $125M notes (SOFR+4.75%, 7-yr) and $59.7M LLC interests; CION holds 80% common.
JV acquired 20 first-lien loans from CION with $180.3M par at 99.8% of par; fair value $180.0M.
Net proceeds to CION ~$132.3M; will repay outstanding debt and for general corporate purposes.
Notes rated investment grade, carry 100% cash flow sweep after 2-yr investment period.
Board has 4 managers (2 each from CION and investors); unanimous approval required for material decisions.

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