CĪON Reports Second Quarter Results

CĪON Investment Corporation, a middle market loan fund that is structured as a non-traded business development company, reported its operating results for the period ended June 30, 2015.

The financial highlights of the quarter are as follows:

Total investment return-net asset value was 5.11 percent during the six months ended June 30, 2015. Since commencement of operations on December 17, 2012, total investment return-net asset value is 25.42 percent, an annualized return of 9.34 percent.

CĪON declared cash distributions to shareholders totaling approximately $24 million, or $0.3658 per share, during the six months ended June 30, 2015, which were fully covered by taxable income, up from approximately $8.4 million, or $0.3508 per share, during the same period last year.

Since its commencement of operations, CĪON increased its gross share price six times. CĪON’s gross share price increased from $10.00 to $10.45, a cumulative increase of $0.45 per share.

During the quarter, CĪON made approximately $339.4 million of new investments and sold or received repayment of investments totaling approximately $128.3 million, resulting in net investment activity of approximately $211.1 million.

As of June 30, 2015, CĪON had an interest in investments in 146 portfolio companies with a fair value of $1.24 billion, of which 92.8 percent were senior secured investments (57.5 percent first lien, 35.3 percent second lien); and 97.9 percent were floating rate investments.

CĪON is a middle-market loan fund that is structured as a publicly registered, non-traded business development company.  CĪON offers individual investors the opportunity to invest primarily in the senior-secured debt of private U.S. middle market companies.  CĪON is advised by CĪON Investment Management LLC, an ICON Investments company, and is sub-advised by Apollo Investment Management L.P., a subsidiary of Apollo Global Management LLC.