Nuveen Churchill Direct Lending Corp. prices public offering of $300 million 6.650% notes due 2030 Investing.com

NEW YORK–(BUSINESS WIRE)–Nuveen Churchill Direct Lending Corp. (the Company, we, us or our) (NYSE: NCDL ) today announced that it has secured a public offering price of $300 million in aggregate principal amount of 6,650% unsecured notes due 2030 (the Notes).

The Notes mature on March 15, 2030 and may be redeemed in whole or in part at the option of the Company at any time prior to February 15, 2030, at par value plus the entire premium plus accrued interest. The Notes will bear interest at a rate of 6.650% per annum payable semi-annually on March 15 and September 15 of each year, commencing on September 15, 2025.

The offering is expected to close on January 22, 2025, subject to the satisfaction of customary closing conditions.

BofA Securities, Inc., SMBC Nikko Securities America, Inc., Wells Fargo (NYSE:) Securities, LLC and Morgan Stanley (NYSE:) & Co. LLC are serving as joint book-running managers for this offering. Citizens of JMP Securities, LLC, Keefe, Bruyette & Woods, company StifelMUFG Securities Americas Inc., Truist Securities, Inc. and US Bancorp (BVMF:) Investments, Inc. act as co-managers for this offer. The Company intends to use the net proceeds of this offering to repay the outstanding indebtedness under the Company’s special purpose property secured credit facility with Wells Fargo Bank, NA in full, to repay a portion of the outstanding indebtedness under the Company’s senior secured revolving credit facility with Sumitomo Mitsui (NYSE:) Banking Corporation , and for general purposes, which may include, among other things, investing in accordance with the Company’s investment objective and strategies.

Investors are advised to carefully consider the investment objective, risks and fees and expenses of the Company before investing. The preliminary prospectus supplement dated January 14, 2025 and the companion prospectus dated December 20, 2024, each filed with the Securities and Exchange Commission (SEC), contain a description of these matters and other important information about the Company and should be read carefully before investing.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sale of the Notes referred to in this press release in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under securities laws of that state or jurisdiction. The registration statement (File No. 333-283950) relating to the Notes was filed on December 20, 2024 and was effective immediately upon filing.

This offering is being made solely by means of a written prospectus that forms part of the actual registration statement and the related preliminary prospectus supplement, which may be obtained free of charge by visiting the SEC’s website at www.sec.gov or from any of the following investment banks by calling: BofA Securities, Inc. at 1-800-294-1322, SMBC Nikko Securities America, Inc. at 1-212-224-5135, Wells Fargo Securities LLC at 1-800-645-3751, and Morgan Stanley & Co. LLC at 1-866-718-1649.

ABOUT NUVEEN CHURCHILL DIRECT LENDING CORP.

NCDL is a specialty finance firm focused primarily on investing in senior secured loans to US private equity owned middle market companies. NCDL has decided to be regulated as a business development company under the Investment Companies Act of 1940, as amended. NCDL is externally managed by its investment adviser, Churchill DLC Advisor LLC, and its sub-adviser, Churchill Asset Management LLC. Both the Investment Adviser and the Sub-Adviser are subsidiaries and affiliates of Nuveen, LLC (Nuveen), the investment management division of the Teachers Insurance and Annuity Association of America (TIAA) and one of the largest global asset managers. Churchill Asset Management LLC is a leading provider of capital to private equity-backed middle market companies and acts as the exclusive US direct lending and private equity firm of Nuveen and TIAA.

FORWARD-LOOKING STATEMENTS

The statements included herein contain certain forward-looking statements within the meaning of federal securities laws, including statements regarding the offering of the Notes and the anticipated use of the net proceeds from the offering. Forward-looking statements can be identified by the use of forward-looking words such as looks, believes, expects, potential, continues, may, will, should, seeks, approximates, predicts, intends, plans, estimates, predicts or negative versions of those words, other comparable words, or other statements that do not relate to historical or factual issues. Forward-looking statements are based on our beliefs, assumptions and expectations of future events and our future performance, taking into account all information currently available to us. These statements are not guarantees of future events, performance, conditions or results and involve a number of risks and uncertainties, including the factors set forth in Risk Factors and elsewhere in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, and our other filings with the SEC. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including but not limited to: changes in financial, capital and credit markets; general economic, political and industry trends and other external factors; and the dependence of NCDL’s future success on the general economy and its impact on the industries in which it invests.

Any forward-looking statement speaks only as of the date it is made. The Company undertakes no obligation to update any forward-looking statements made herein, whether as a result of new information, future developments or otherwise, except as required by law.

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Investor:
Investor relations
Robert.Paun@churchillam.com

Media:
Average Partners
Madison Hanlon
Pro-churchill@prosek.com

Source: Nuveen Churchill Direct Lending Corp.