10:26 AM EDT, 09/23/2024 (MT Newswires) -- CION Investment ( CION ) said Monday it has closed an offering of $100 million in total principal amount of its floating rate senior unsecured notes due 2027.

The notes are the second tranche, or tranche B, of the 2027 notes the firm issued in November 2023.

The notes will mature on Nov. 8, 2027, bearing a floating interest rate equal to the three-month Secured Overnight Financing Rate plus a credit spread of 3.90% annually.

The firm said it intends to use the net proceeds to repay debt, invest in portfolio companies, and for general corporate purposes.

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