---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-24-012245"
form_type: "8-K"
ticker: "NCDL"
cik: "0001737924"
company_name: "Nuveen Churchill Direct Lending Corp."
filed_at: "2024-03-20T23:59:59+00:00"
generated_at: "2026-06-04T11:47:23.618592+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Nuveen Churchill closes $297M CLO-III securitization; reduces Wells Fargo facility to $150M

## Summary
- Closed $296.97M term debt securitization (CLO-III) on March 14, 2024; notes due April 20, 2036.
- Notes issued: $175.5M AAA Class A (SOFR+2.00%), $37.5M AA Class B (SOFR+2.65%), $2M AAA Class X (SOFR+1.40%), and $81.97M Subordinated Notes retained by company.
- Amended Wells Fargo Financing Facility: maximum reduced from $275M to $150M; can increase to $250M with lender consent.
- Reinvestment period under Wells Fargo facility ends March 31, 2025; undrawn fees escalate from 0.25% to 1.50% over time.

## SEC filing metadata
- accession: 0001628280-24-012245
- form_type: 8-K
- ticker: NCDL
- cik: 0001737924
- company_name: Nuveen Churchill Direct Lending Corp.
- filed_at: 2024-03-20T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1737924/000162828024012245/0001628280-24-012245-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1737924/000162828024012245/ncdlc-20240314.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-24-012245
- JSON: https://secwatch.observer/filing/0001628280-24-012245.json
- Plain text: https://secwatch.observer/filing/0001628280-24-012245.txt

## Key facts
- Debt Financings
  Nuveen Churchill Direct Lending Corp. amended revolving credit of $150 million with Wells Fargo Bank, National Association.
  - Instrument: revolving credit
  - Principal: $150 million
  - Counterparty: Wells Fargo Bank, National Association
  - Event: amendment
  source text: The Amendment, among other changes, decreases the maximum facility amount available under the Loan Agreement from $275 million to $150 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1737924/000162828024012245/0001628280-24-012245-index.htm
- Material Agreements
  Nuveen Churchill Direct Lending Corp. amended Third Amendment to Loan and Security Agreement with Wells Fargo Bank, National Association valued at decreases the maximum facility amount available under the Loan Agreement from $275 million to $150 m (effective 2024-03-14).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Wells Fargo Bank, National Association
  - Value: decreases the maximum facility amount available under the Loan Agreement from $275 million to $150 m
  - Effective: 2024-03-14
  source text: Also, on March 14, 2024 (the “Amendment Date”), Nuveen Churchill BDC SPV V, LLC (“SPV V”), a wholly owned subsidiary of the Company, entered into the Third Amendment to Loan and Security Agreement (the “Amendment”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1737924/000162828024012245/0001628280-24-012245-index.htm
- Material Agreements
  Nuveen Churchill Direct Lending Corp. entered into Indenture with Churchill NCDLC CLO-III, LLC valued at $296,970,000 (effective 2024-03-14).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: Churchill NCDLC CLO-III, LLC
  - Value: $296,970,000
  - Effective: 2024-03-14
  source text: The notes offered in the 2024 Debt Securitization (the “2024 Notes”) were issued by Churchill NCDLC CLO-III, LLC (formerly known as Nuveen Churchill BDC SPV III, LLC) (the “2024 Issuer”), a direct, wholly owned, consolidated subsidiary of the Company, pursuant to an indenture (the “Indenture”) dated as of the Closing Date.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1737924/000162828024012245/0001628280-24-012245-index.htm

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