--- schema_version: "secwatch.filing_event.v1" accession: "0001628280-23-041321" form_type: "8-K" ticker: "NCDL" cik: "0001737924" company_name: "Nuveen Churchill Direct Lending Corp." filed_at: "2023-12-12T23:59:59+00:00" generated_at: "2026-06-07T14:18:47.920982+00:00" event_type: "debt" sentiment: "neutral" materiality_score: 0.5 calibrated_materiality_score: 0.5 confidence: "high" source: SEC EDGAR --- # Nuveen Churchill closes $298M CLO debt securitization with multiple tranches ## Summary - $298.06M term debt securitization closed Dec 7, 2023; notes and loans backed by senior secured and second lien loans. - Classes: $2M AAA Class X (SOFR+2%), $100.5M AAA A-1 (SOFR+2.35%), $37.5M AA B (SOFR+3.20%), $83.06M Subordinated (retained by company). - Additionally, $25M Class A-L-A loans and $50M Class A-L-B loans drawn at close (SOFR+2.35%). - Maturity Jan 20, 2036; reinvestment period until Jan 20, 2028; company serves as collateral manager and waives management fee. ## SEC filing metadata - accession: 0001628280-23-041321 - form_type: 8-K - ticker: NCDL - cik: 0001737924 - company_name: Nuveen Churchill Direct Lending Corp. - filed_at: 2023-12-12T23:59:59+00:00 - event_type: debt - sentiment: neutral - materiality_score: 0.5 - calibrated_materiality_score: 0.5 - confidence: high - sec_items: 1.01, 2.03, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1737924/000162828023041321/0001628280-23-041321-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1737924/000162828023041321/ncdlc-20231207.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001628280-23-041321 - JSON: https://secwatch.observer/filing/0001628280-23-041321.json - Plain text: https://secwatch.observer/filing/0001628280-23-041321.txt ## Key facts - Material Agreements Nuveen Churchill Direct Lending Corp. entered into Class A-L-A Loan Agreement with various financial institutions and other persons which are, or may become, parties thereto as lenders valued at $25 million (effective 2023-12-07). - Action: entry - Agreement: credit facility - Counterparty: various financial institutions and other persons which are, or may become, parties thereto as lenders - Value: $25 million - Effective: 2023-12-07 source text: the 2023 Issuer also entered into a loan agreement (the “Class A-L-A Loan Agreement”), pursuant to which various financial institutions and other persons which are, or may become, parties thereto as lenders (the “Class A-L-A Lenders”) committed to make $25 million of AAA Class A-L-A 2023 Loans to the 2023 Issuer evidence_url: https://www.sec.gov/Archives/edgar/data/1737924/000162828023041321/0001628280-23-041321-index.htm - Material Agreements Nuveen Churchill Direct Lending Corp. entered into Indenture and security agreement with Churchill NCDLC CLO-II, LLC valued at $298,060,000 (effective 2023-12-07). - Action: entry - Agreement: notes offering - Counterparty: Churchill NCDLC CLO-II, LLC - Value: $298,060,000 - Effective: 2023-12-07 source text: The notes offered in the 2023 Debt Securitization (the “2023 Notes”) were issued by Churchill NCDLC CLO-II, LLC (formerly known as Nuveen Churchill BDC SPV II, LLC) (the “2023 Issuer”), a direct, wholly-owned, consolidated subsidiary of the Company, pursuant to an indenture and security agreement (the “Indenture”) dated as of the Closing Date. evidence_url: https://www.sec.gov/Archives/edgar/data/1737924/000162828023041321/0001628280-23-041321-index.htm - Material Agreements Nuveen Churchill Direct Lending Corp. entered into Class A-L-B Loan Agreement with various financial institutions and other persons which are, or may become, parties thereto as lenders valued at $50 million (effective 2023-12-07). - Action: entry - Agreement: credit facility - Counterparty: various financial institutions and other persons which are, or may become, parties thereto as lenders - Value: $50 million - Effective: 2023-12-07 source text: a loan agreement (the “Class A-L-B Loan Agreement” and, together with the Class A-L-A Loan Agreement, the “Loan Agreements”), pursuant to which various financial institutions and other persons which are, or may become, parties thereto as lenders (the “Class A-L-B Lenders”) committed to make $50 million of AAA Class A-L-B 2023 Loans to the 2023 Issuer evidence_url: https://www.sec.gov/Archives/edgar/data/1737924/000162828023041321/0001628280-23-041321-index.htm - Material Agreements Nuveen Churchill Direct Lending Corp. entered into Placement Agreement with SMBC Nikko Securities America, Inc., as placement agent and Capital One Securities, Inc., as co-placement agent (effective 2023-12-07). - Action: entry - Agreement: underwriting - Counterparty: SMBC Nikko Securities America, Inc., as placement agent and Capital One Securities, Inc., as co-placement agent - Effective: 2023-12-07 source text: the 2023 Issuer entered into a Placement Agreement (the “Placement Agreement”) with SMBC Nikko Securities America, Inc., as placement agent (in such capacity, the “Placement Agent”) and Capital One Securities, Inc., as co-placement agent (in such capacity, the “Co-Placement Agent” and, together with the Placement Agent, the “Placement Agents”) evidence_url: https://www.sec.gov/Archives/edgar/data/1737924/000162828023041321/0001628280-23-041321-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.