Nuveen Churchill Direct Lending Corp. enters $185M revolving credit facility, expandable to $300M

Nuveen Churchill Direct Lending Corp.

Initial capacity $185M with uncommitted accordion to $300M; borrowing base tied to portfolio investments.
Maturity June 2028; swingline sublimit $25M; proceeds for general corporate and portfolio funding.
Interest on US$ draws at Term SOFR or prime rate plus applicable margin (1.125%-2.25% p.a. range).
Commitment fee 0.375% on undrawn amount; facility secured by substantially all portfolio investments.
Guarantee by subsidiary NCDL Equity Holdings LLC and future guarantors; SMBC administrative agent and sole bookrunner.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Nuveen Churchill Direct Lending Corp. entered into Senior Secured Revolving Credit Agreement with Sumitomo Mitsui Banking Corporation (administrative agent, sole bookrunner) and Wells Fargo Securities, LLC (joint lead arranger) valued at Initial maximum principal amount of $185,000,000, subject to increase to $300,000,000 through accord (effective 2023-06-23).

Action: entry
Agreement: credit facility
Counterparty: Sumitomo Mitsui Banking Corporation (administrative agent, sole bookrunner) and Wells Fargo Securities, LLC (joint lead arranger)
Value: Initial maximum principal amount of $185,000,000, subject to increase to $300,000,000 through accord
Effective: 2023-06-23

Exact text from the filing

On June 23, 2023, Nuveen Churchill Direct Lending Corp. (the “ Company ”), a Maryland corporation, entered into a Senior Secured Revolving Credit Agreement (the “ Revolving Credit Agreement ”). The parties to the Revolving Credit Agreement include the Company, as borrower, the lenders from time to time parties thereto, Sumitomo Mitsui Banking Corporation, as administrative agent, Sumitomo Mitsui Banking Corporation and Wells Fargo Securities, LLC, as joint lead arrangers and Sumitomo Mitsui Banking Corporation, as sole bookrunner (the " Facility ").

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Source: SEC EDGAR

accession 0001628280-23-023726

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