Business Development Company

CION Investment Corporation has priced a $125 million offering of unsecured notes due 2031. The net proceeds, estimated at $121.25 million, will primarily be used to reduce outstanding borrowings under its senior secured credit facilities. The notes carry a 7.50% annual coupon, payable quarterly, and mature on March 31, 2031. This move aims to enhance financial flexibility and strengthen CION’s credit profile as a business development company investing in middle-market loans.

Gladstone Capital Corporation (GLAD) declared a supplemental cash distribution of $0.10 per share, payable September 29, 2025, to stockholders of record on September 23, 2025. GLAD, a business development company, focuses on debt and equity financing for lower middle-market businesses. It also offers a dividend reinvestment plan (DRIP). The supplemental dividend reflects confidence in its portfolio and commitment to shareholder value, within regulatory constraints for BDCs.

New Mountain Finance Corporation (NMFC) reported Q2 2025 net investment income of $0.32 per share and declared a Q3 distribution of $0.32 per share. The net asset value was $12.21 per share, down from $12.45 in the previous quarter. Approximately 95% of the portfolio is internally rated green. NMFC increased its senior-oriented asset mix to 78% and repurchased $9.6 million of shares. The company also received a third SBIC license. The investment portfolio stood at $3,014.2 million across 124 companies.