Cion Investment Corporation · NYSE:CION
Cion Investment — Q1 2022 Earnings Presentation
14 slides from Cion Investment's earnings presentation, May 12, 2022
Slide 1: CION Investment Corporation First Quarter 2022 Earnings Presentation
CION Investment Corporation First Quarter 2022 Earnings Presentation
Slide 2: Disclosures and Forward-Looking Statements
Disclosures and Forward - Looking Statements 2 The information contained in this earnings presentation should be viewed in conjunction with the earnings conference call of CION Investment Corporation (NYSE : CION) (“CION” or the “Company”) held on May 12 , 2022 as well as the Company’s Quarterly Rep
Slide 3: Quarterly and Other Highlights - Quarter Ended March 31, 2022
3 (1) The discussion of the investment portfolio excludes short term investments. Quarterly and Other Highlights - Quarter Ended March 31, 2022 The Company completed a 2 - to - 1 reverse stock split effective September 21 , 2021 . Accordingly, share and per share amounts in this presentation have be
Slide 4: Selected Financial Highlights
4 Selected Financial Highlights (1) The discussion of the investment portfolio excludes short term investments. (2) Total debt outstanding excludes netting of debt issuance costs. Please refer to page 10 for debt net of issuance costs . (3) Includes a special distribution of $0.20 per share during t
Slide 5: Investment Activity
Investment Activity ▪ New investment commitments for the quarter were $155 million, of which $123 million were funded and $32 million were unfunded . ▪ New investment commitments were made across 8 new portfolio companies and 7 existing portfolio companies. ▪ Fundings of previously unfunded commitme
Slide 6: Portfolio Asset Composition
6 Portfolio Asset Composition 92% 92% 88% 84% 82% 2% 2% 6% 8% 10% 0% * 0% * 1% 1% 1% 2% 2% 0% * 0% * 0% * 4% 4% 5% 6% 7% $1,740 $1,666 $1,630 $1,676 $1,534 Q1 2022 Q4 2021 Q3 2021 Q2 2021 Q1 2021 End of Period Investments (in millions) * Less than 1%. The discussion of the investment portfolio is at
Slide 7: Credit Quality of Investments
7 INTERNAL INVESTMENT RISK RATINGS 1 (% of Total Portfolio, Fair Value) Q1 2022 NON - ACCRUAL % 1 Higher Credit Quality Lower Credit Quality Credit Quality of Investments 2.34% 0.61% Amortized Cost Fair Value (1) The discussion of the investment portfolio excludes short term investments. * - Less th
Slide 8: Portfolio Summary
94% Senior Secured Debt Investments PORTFOLIO BY SECURITY TYPE 1 PORTFOLIO BY INTEREST RATE TYPE 1 91.8% 2.1% 4.3% 0.2% 1.6% ▪ First Lien Debt (91.8%) ▪ Second Lien Debt (2.1%) ▪ Equity (4.3%) ▪ Collateralized Securities & Structured Products: Equity (0.2%) ▪ Unsecured Debt (1.6%) ▪ Floating Interes
Slide 9: Quarterly Operating Results
Quarterly Operating Results 9
Slide 10: Quarterly Balance Sheet
Quarterly Balance Sheet inven Tae {Sessa Seo FuTase Taras o8s Tae can 137500 3778 2359 3496 Fears Insesteceable on inverts 21288 21509 21208 20279 7201 cea sot oneness 7.303 ass 19559 sate 39915 Duigensrecenabe oneness : 5 335 197 a5 Teal 5 03 Bz 682 789.908. RECTUS Lables net Aes nein arangeiet (et
Slide 11: Q1 2022 Net Asset Value Bridge Per Share Data
11 Q1 2022 Net Asset Value Bridge Per Share Data * - Less than $ 0 . 01 per share . *
Slide 12: Debt Summary
12 Total Commitment Amount Principal Amount Outstanding Interest Rate Maturity Date JPM Credit Facility $675 $595 L + 3.10% (2) 5/15/2024 UBS Facility 150 125 L + 3.375% 11/19/2023 Unsecured Notes, 2026 1 125 125 4.50% 2/11/2026 Unsecured Term Loan 1 30 30 5.20% 9/30/2024 Total Debt $980 $875 3.7% D
Slide 13: Distribution Per Share and Distribution Coverage
13 Distribution Per Share and Distribution Coverage (1) In March 2020 , the Company determined to suspend distributions commencing with the month ended April 30 , 2020 in order to provide financial flexibility in response to the COVID - 19 pandemic . In July 2020 , the Company determined to recommen
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