Alternative Investment Solutions

CION Investment Corporation Announces Q2 2017 Operating Results

Aug 14, 2017

CION Investment Corporation Announces Q2 2017 Operating Results

Financial Highlights:

  • Total investment return-net asset value was 4.60% during the three months ended June 30, 2017.  Since commencement of operations on December 17, 2012, total investment return-net asset value is 44.69%, an annualized return of 8.48%.
  • CION declared cash distributions to shareholders totaling approximately $40.5 million, or $0.3658 per share, during the six months ended June 30, 2017, which were fully covered by taxable income, up from approximately $38.2 million, or $0.3658 per share, during the six months ended June 30, 2016.
  • During the six months ended June 30, 2017, CION increased its gross share price two times from $9.57 to $9.65 per share.  
  • During the quarter, CION made approximately $331.9 million of new investments and sold or received repayment of investments totaling approximately $206.5 million, resulting in net investment activity of approximately $125.4 million.
  • As of June 30, 2017, CION had an interest in investments in 156 portfolio companies with a fair value of $1.54 billion, of which:
    • 95.9% were senior secured investments (69.0% first lien, 26.9% second lien)? and
    • 93.9% were floating rate investments.

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