CION Investment – which trades at a big discount to book – had a very good IQ 2024. We discuss what’s happening.
For a second year in a row CION Investment has announced a last minute “top-up” distribution. We analyze where this leaves the BDC as 2023 comes to a close.
We undertake a thorough – sometimes exhausting – review of CION Investment following the BDC’s record IIIQ 2023 results.
Five different BDCs are tapping the markets for unsecured, medium term debt – each in a different way. We review the details and explain why this is important.
In its less than two years as a public BDC Cion Investment has had an above-average level of credit losses. That makes assessing its longer term outlook problematic.
CION Investment has renewed its share repurchase program. We use the opportunity to ask if the BDC’s buyback program makes any difference to its shareholders.
Yet another Cion Investment portfolio company has filed for bankruptcy protection but the outcome should be alright for the BDC. Plus, additional data from the BDC Credit Reporter and KBRA about the bigger picture default picture.
In a rare occurrence of late, a public BDC has raised unsecured debt. Even more interestingly, the financing is not a standard 5 year, fixed rate instrument. We discuss the implications for both the BDC involved and for the sector.
We assess the likely realized losses to be booked by two BDCs in the wake of a debt-to-equity restructuring of an engineering company.
Cion Investment – as long promised – announced a special year-end distribution.We discuss BDC dividend policy; this year’s payout over last year’s and the muted outlook for 2023, as well as review how the stock price has fared this year.
We re-publish an article from the BDC Credit Reporter about a Cion Investment portfolio company that may file for bankruptcy
We re-publish an article from the BDC Credit Reporter about the sorry state of a BDC portfolio company held by half a dozen players.
Newly public Cion Investment – whose stock has tanked in recent months – has reported IIQ 2022 results which include a sharp increase in its dividend. We annotate the BDC’s conference call transcript.
The markets continue to bounce around- dropping again on Thursday and bringing the BDC sector along. Two BDCs reported results and provided updated credit metrics. BDC earnings season is all but over.
The major indices dropped again. This time the BDC sector followed, but remains close to its highest levels. Outside of Main Street’s IVQ 2021 update – covered in a separate article – there were two credit developments worth knowing about.
