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Non-Traded BDC Declares Cash Distributions

CĪON Investment Corporation (CĪON), a non-traded BDC that focuses on the senior secured debt of U.S. middle market companies, announced that it has declared five regular weekly cash distributions. 

The weekly distributions of $0.014067 per share each, which will be paid on December 31, 2014, to shareholders of record on December 2, December 9, December 16, December 23, and December 30, 2014. Based on its current $10.45 per share public offering price, the $0.014067 per share annualizes to a rate of 7%.

CĪON determines the tax attributes of its distributions at the end of its fiscal year based upon its taxable income and distributions paid for the full year.

Sponsored by ICON Investments, CĪON was formed in 2011 and its investments consist of senior secured loans, second lien loans, collateralized loan obligations, and long-term subordinated loans, referred to as mezzanine loans, of private and thinly traded U.S. middle-market companies. Its investment objective is to generate current income for its investors and, to a lesser extent, capital appreciation.