CION Investment Extends UBS Repurchase Agreement Deadline

The move provides short-term flexibility as CION and UBS work on a broader amendment to their financing arrangement.

January 16, 2025

CION Secures One-Month Extension on UBS Repurchase Agreement

CION Investment Corporation, through its subsidiary Murray Hill Funding, has extended its repurchase obligations with UBS AG by a month, signaling ongoing negotiations for a broader amendment to its financing arrangement.

On January 13, 2025, Murray Hill Funding, a wholly owned special-purpose financing subsidiary of CION, entered into two updated agreements with UBS under its existing Global Master Repurchase Agreement. The Seventh Amended and Restated Master Confirmation applies to Class A-1 Notes, while the Third Amended and Restated Master Confirmation covers Class A-R Notes.

These updates extend the date by which Murray Hill Funding must repurchase previously sold Class A-1 and Class A-R Notes from UBS. Originally due on January 15, 2025, the new deadline is February 14, 2025. This extension serves as a temporary bridge while both parties negotiate a more comprehensive amendment to the UBS facility. Other key terms of the financing arrangement remain unchanged.

Strategic Financial Flexibility

CION Investment Corporation, a business development company headquartered in New York, specializes in middle-market credit investments. The firm is listed on the New York Stock Exchange under the ticker CION, with additional 7.50% Notes due 2029 trading under CICB.

The latest extension reflects CION’s strategic efforts to maintain financial flexibility while continuing discussions with UBS. As of now, no further details on the anticipated amendments to the financing agreement have been disclosed.