---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-037234"
form_type: "8-K"
ticker: "NCDL"
cik: "0001737924"
company_name: "Nuveen Churchill Direct Lending Corp."
filed_at: "2023-11-07T23:59:59+00:00"
generated_at: "2026-06-08T16:31:31.453664+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "medium"
source: SEC EDGAR
---

# Nuveen Churchill Direct Lending prices $298M CLO and issues $100M equity in November 2023

## Summary
- Priced a term debt securitization on Nov 2, 2023, with notes and loans totaling approximately $298M.
- Notes include $2M AAA X (SOFR+2%), $100.5M AAA A-1 (SOFR+2.35%), $37.5M AA B (SOFR+3.2%), and $83M Subordinated (retained by company).
- Entered into $25M Class A-L-A and $50M Class A-L-B credit agreements, both at SOFR+2.35%, maturing Jan 2036.
- Issued 5,497,609 shares of common stock on Nov 3, 2023, raising approximately $100M from existing investors.
- Provided an investor presentation for Q3 2023, but specific financial performance figures were not detailed in this filing.

## SEC filing metadata
- accession: 0001628280-23-037234
- form_type: 8-K
- ticker: NCDL
- cik: 0001737924
- company_name: Nuveen Churchill Direct Lending Corp.
- filed_at: 2023-11-07T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: medium
- sec_items: 2.02, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1737924/000162828023037234/0001628280-23-037234-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1737924/000162828023037234/ncdlc-20231102.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-037234
- JSON: https://secwatch.observer/filing/0001628280-23-037234.json
- Plain text: https://secwatch.observer/filing/0001628280-23-037234.txt

## Key facts
- Debt Financings
  Nuveen Churchill Direct Lending Corp. incurred loan of $50,000,000 with U.S. Bank Trust Company, National Association, as trustee and loan agent at three-month Term SOFR plus 2.35% maturing January 20, 2036.
  - Instrument: loan
  - Principal: $50,000,000
  - Counterparty: U.S. Bank Trust Company, National Association, as trustee and loan agent
  - Rate: three-month Term SOFR plus 2.35%
  - Maturity: January 20, 2036
  - Event: incurrence
  source text: Pursuant to the Class A-L-B Credit Agreement, the Class A-L-B Lenders will make $50,000,000 of AAA A-L-B Loans to the Company, which bear interest at the three-month Term SOFR plus 2.35% and will be fully drawn upon closing of the transactions.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1737924/000162828023037234/0001628280-23-037234-index.htm
- Debt Financings
  Nuveen Churchill Direct Lending Corp. incurred debt of $2,000,000 of AAA Class X Notes, $100,500,000 of AAA Class A-1 Notes, $37,500,000 of AA Class B Notes, and approximately with SMBC Nikko Securities America, Inc., as placement agent maturing January 20, 2036.
  - Principal: $2,000,000 of AAA Class X Notes, $100,500,000 of AAA Class A-1 Notes, $37,500,000 of AA Class B Notes, and approximately
  - Counterparty: SMBC Nikko Securities America, Inc., as placement agent
  - Maturity: January 20, 2036
  - Event: incurrence
  source text: The 2023 Notes consist of $2,000,000 of AAA Class X Notes, which bear interest at the three-month Term SOFR plus 2.00%; $100,500,000 of AAA Class A-1 Notes, which bear interest at the three-month Term SOFR plus 2.35%; $37,500,000 of AA Class B Notes, which bear interest at the three-month Term SOFR plus 3.20%; and approximately $83,060,000 of Subordinated Notes, which do not bear interest.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1737924/000162828023037234/0001628280-23-037234-index.htm
- Debt Financings
  Nuveen Churchill Direct Lending Corp. incurred loan of $25,000,000 with U.S. Bank Trust Company, National Association, as trustee and loan agent at three-month Term SOFR plus 2.35% maturing January 20, 2036.
  - Instrument: loan
  - Principal: $25,000,000
  - Counterparty: U.S. Bank Trust Company, National Association, as trustee and loan agent
  - Rate: three-month Term SOFR plus 2.35%
  - Maturity: January 20, 2036
  - Event: incurrence
  source text: Pursuant to the Class A-L-A Credit Agreement, the Class A-L-A Lenders will make $25,000,000 of AAA A-L-A 2023 Loans to the Company, which bear interest at the three-month Term SOFR plus 2.35% and will be fully drawn upon closing of the transactions.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1737924/000162828023037234/0001628280-23-037234-index.htm
- Earnings Releases
  Nuveen Churchill Direct Lending Corp. reported financial results for the quarter ended September 30, 2023.
  - Period: the quarter ended September 30, 2023
  - Result: reported results
  source text: On November 7, 2023, Nuveen Churchill Direct Lending Corp. (the “Company”) provided an investor presentation to its shareholders summarizing certain financial and performance information for the quarter ended September 30, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1737924/000162828023037234/0001628280-23-037234-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.