Nuveen Churchill Direct Lending Corp. priced an underwritten public offering of $100 million in 6.650% unsecured notes due March 15, 2030, at 100.123% of par. The issuance boosts its 6.650% notes to $400 million outstanding and will fund revolver repayment and future investments.
Nuveen Churchill Direct Lending Corp. has issued an additional $100 million of 6.650% unsecured notes due March 15, 2030. The notes were priced at 100.123% of par and accrue interest from March 15, 2026, payable semi-annually on March 15 and September 15.
These new notes share identical terms (except issue date, price, and initial interest payment date) with the $300 million series issued January 22, 2025, and rank equally in right of payment, creating a single $400 million series.
The company will use net proceeds to repay part of its senior secured revolving credit facility with Sumitomo Mitsui Banking Corporation. Through re-borrowings under the facility, Nuveen Churchill may continue making investments in line with its strategy and cover general corporate purposes.
The offering is expected to close on July 10, 2026, subject to customary closing conditions. SMBC Nikko Securities America, Inc. is serving as the sole book-running manager for this transaction.
