CION Investment Corporation announced amendments to its credit facilities with JPMorgan Chase Bank, National Association (“JPM”) and UBS AG (“UBS”). On May 15, 2023, CION amended its credit facility with JPM to extend the reinvestment period from May 15, 2023 to May 15, 2024 and the maturity date from May 15, 2024 to May 15, 2025. Total advances to CION remain unchanged of up to $675,000,000, but the amount of minimum borrowing required was reduced by $50,000,000 to $550,000,000 with a six-month non-call provision.

All such advances bear interest at a floating rate equal to the three-month SOFR, plus a credit spread of 3.05% per year, and a LIBOR to SOFR credit spread adjustment of 0.15%. Additionally, on June 14, 2023, CION amended its credit facility with UBS by extending the date on which the Notes previously sold to UBS are required to be repurchased from November 19, 2023 to November 19, 2024. Total principal amount of Notes that could be sold to UBS remains unchanged of up to $150,000,000, but the financing fee payable to UBS was revised from a floating rate equal to the three-month LIBOR, plus a spread of 3.375% per year, to a floating rate equal to the three-month SOFR, plus a spread of (a) to (but excluding) November 19, 2023, 3.375% per year and a LIBOR to SOFR spread adjustment of 0.15%, and (b) thereafter, 3.20% per year.