Nuveen Churchill Direct Lending Corp. Launches $300 Million Note Offering

Nuveen Churchill Direct Lending Corp. Launches High-Interest Note Offering

Nuveen Churchill Direct Lending Corp. has recently announced a substantial public offering that is sure to attract interest from investors keen on opportunities in the finance sector. The company priced its underwritten public offering at $300 million for 6.650% unsecured notes, which are set to mature in 2030. This move signals the company's strategic planning as it seeks to reinforce its investment framework.

Details of the Note Offering

The 6.650% notes are set to mature on March 15, 2030, providing an attractive interest rate for potential investors. Notably, the company has implemented a feature allowing these notes to be redeemed in whole or part before February 15, 2030, providing flexibility for management and security for investors. Interest on the notes will be payable semi-annually, commencing on September 15, 2025, allowing investors to enjoy consistent returns.

Closing Timeline and Management Team

The anticipated close date for this offering is slated for January 22, 2025, conditional upon fulfilling customary closing prerequisites. A team of reputable institutions, including BofA Securities, Inc. and Wells Fargo Securities, LLC, are overseeing the offering, which enhances its credibility and effectiveness. The involvement of multiple financial partners indicates a strong network backing this endeavor.

Utilization of Proceeds

Proceeds from the note offering will serve critical purposes for Nuveen Churchill Direct Lending Corp. The company plans to repay outstanding debts under its secured credit facility with Wells Fargo Bank, N.A. Furthermore, a portion will go towards reducing indebtedness under its senior secured revolving credit facility with Sumitomo Mitsui Banking Corporation. This strategic move not only strengthens the company's financial standing but also aligns with its long-term objectives for growth and stability.

Investment Considerations

As with any investment, potential investors are encouraged to carefully consider the investment objectives, risks, and associated expenses before committing their resources. The preliminary prospectus supplement provides extensive details on the factors at play, and it’s wise for investors to review this document. Understanding the risks involved is crucial to making a sound investment decision.

About Nuveen Churchill Direct Lending Corp.

Nuveen Churchill Direct Lending Corp. operates as a specialty finance company concentrating on senior secured lending to private equity-owned middle-market companies in the U.S. This focus allows the company to navigate the complexities of the financial landscape efficiently. The firm is regulated under the Investment Company Act of 1940, affirming its commitment to compliance and responsible management.!

Investment Management

The company is expertly managed by Churchill DLC Advisor LLC and Churchill Asset Management LLC, both of which are affiliated with the renowned Nuveen, LLC. Having substantial expertise in middle-market direct lending and private capital, these management teams provide the depth of knowledge necessary to optimize investment strategies and decision-making.

Frequently Asked Questions

What are the key features of the 6.650% notes?

The 6.650% notes will mature on March 15, 2030, with interest payable semi-annually from September 2025.

How will the funds from the offering be used?

Funds will repay existing debts and support general operational purposes, including investments aligned with the company's objectives.

Who is managing the note offering?

BofA Securities, Wells Fargo Securities, and Morgan Stanley are among the joint book-running managers for this offering.

What is the closure date for the offering?

The offering is expected to close on January 22, 2025, pending customary conditions.

What strategic advantage does NCDL hold?

NCDL focuses on senior secured loans to private equity-backed companies, positioning itself uniquely in the market for stability and growth.

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