debt
confidence high
sentiment neutral
materiality 0.65
Nuveen Churchill Private Capital Income Fund closes $499.7M CLO and amends Scotiabank credit facility
Nuveen Churchill Private Capital Income Fund
- CLO issued $290M Class A-1 notes (AAA, SOFR+1.665%), $35M Class B notes (AA, SOFR+2.10%), $144.7M Subordinated notes.
- CLO also includes $20M Class A-2L loans (AAA, SOFR+1.85%) and $10M Class B-L loans (AA, SOFR+2.10%); due May 15, 2037.
- Scotiabank credit facility amended: revolving commitment set at $150M (up to $450M), maturity extended to May 22, 2034.
- New borrowers added (NCPCIF SPV III LLC and NCPCIF BSL SPV I LLC); prior issuer removed.
- Fund retains all Subordinated notes and will waive management fees for collateral manager and servicer roles.
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