Investor Presentaiton
Solid Performance and Current Valuation
Senior Secured¹
Portfolio Yield²
100.0%
95.0%
10.00%
94.2%
9.50%
8.90%
90.0%
86.3%
9.00%
85.0%
8.50%
80.0%
8.00%
75.0%
7.50%
70.0%
7.00%
65.0%
6.50%
60.0%
6.00%
55.0%
5.50%
50.0%
5.00%
CION
BDC Peers
CION
Distribution Yield4
16.0%
13.4%
14.0%
12.0%
10.0%
8.0%
6.0%
4.0%
2.0%
0.0%
CION
Leverage³
130.0%
9.06%
120.0%
110.0%
104.7%
100.0%
90.0%
80.0%
70.0%
60.0%
50.0%
BDC Peers
CION
Non-Accrual %5
1.8%
1.6%
1.5%
1.4%
9.9%
1.2%
1.0%
0.8%
0.6%
0.4%
0.2%
0.0%
BDC Peers
CION
1.0x
Price to NAV6
0.8x
0.61x
0.6x
0.8%
0.4x
BDC Peers
0.2x
0.0x
CION
117.7%
BDC Peers
0.92x
BDC Peers
CION BO
1)
Unless otherwise noted, all financial data as of June 30, 2022. BDC Peers consists of 14 externally managed, publicly traded BDCs with a senior secured focus and a market capitalization between approximately $2.9bn and $539mm as of August 31, 2022.
Calculated as first lien and second lien loans at fair value as a percentage of total investments at fair value
4)
2)
INVESTMENTS
3)
Weighted average yield on income producing debt and other investments, exclusive of investments on non-accrual status.
Two BDC peers used calculated weighted average yield at fair value of all income-producing investments.
Leverage statistic calculated as gross debt outstanding divided by total shareholders' equity
Distribution Yield is calculated as trailing-twelve months quarterly distributions declared as of June 30, 2022, divided by market
share price as of August 31, 2022.
12
5)
Non-accrual statistic is calculated as a percentage of total investments at fair value
6)
Calculated as Net Asset Value per share divided by market share price as of August 31, 2022.View entire presentation