Nuveen Churchill Direct LendingNCDL
NCDL
About: Nuveen Churchill Direct Lending Corp is a specialty finance company focused predominantly on investing in senior secured loans to private equity-owned U.S. middle market companies. It invest in senior secured loans that typically pay floating interest rates and are senior in the capital structure to junior debt and equity.
0
Funds holding %
of 6,831 funds
–
Analysts bullish %
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
575% more repeat investments, than reductions
Existing positions increased: 27 | Existing positions reduced: 4
240% more first-time investments, than exits
New positions opened: 17 | Existing positions closed: 5
165% more capital invested
Capital invested by funds: $81M [Q2] → $215M (+$134M) [Q3]
28% more funds holding
Funds holding: 39 [Q2] → 50 (+11) [Q3]
14.0% more ownership
Funds ownership: 8.45% [Q2] → 22.45% (+14.0%) [Q3]
Research analyst outlook
We haven’t received any recent analyst ratings for NCDL.
Financial journalist opinion
Based on 5 articles about NCDL published over the past 30 days
Positive
Seeking Alpha
6 days ago
BDC Weekly Review: OBDC Consummates Merger, Delivering Alpha To OBDE Holders
We take a look at the action in business development companies through the third week of January and highlight some of the key themes we are watching. BDCs had a strong week with a 3% total return, boosted this year by the unwinding of several Fed rate cuts. Blue Owl Capital Corp's merger with OBDE provided significant alpha opportunities due to OBDE's lower valuation.
Neutral
Business Wire
1 week ago
Nuveen Churchill Direct Lending Corp. Announces Closing of Public Offering of $300 Million 6.650% Notes Due 2030
NEW YORK--(BUSINESS WIRE)--Nuveen Churchill Direct Lending Corp. (the “Company,” “we,” “us,” or “our”) (NYSE: NCDL) today announced that it has closed a public offering of $300.0 million aggregate principal amount of 6.650% unsecured notes due 2030 (the “Notes”), which resulted in net proceeds to the Company of approximately $296.0 million, after deducting the underwriting discount and the estimated offering expenses payable by the Company. The Notes bear interest at a rate of 6.650% per year p.
Neutral
Business Wire
1 week ago
Nuveen Churchill Direct Lending Corp. Schedules Fourth Quarter and Full Year 2024 Earnings Release and Conference Call
NEW YORK--(BUSINESS WIRE)--Nuveen Churchill Direct Lending Corp. (NYSE: NCDL) (“NCDL” or “the Company”), today announced it will report its financial results for the fourth quarter and full year ended December 31, 2024, on Thursday, February 27, 2025, before the market opens. The Company will host an earnings conference call and public webcast at 11:00 AM Eastern Time the same day to discuss its financial results. All interested parties may participate in the conference call by dialing (866)-60.
Positive
Seeking Alpha
1 week ago
Nuveen Churchill Direct Lending: New BDC On The Block With Potential
I rate Nuveen Churchill Direct Lending (NCDL) as a buy due to its solid dividend coverage, diverse portfolio, discount to NAV valuation, and consistent investment activity. NCDL's portfolio is valued at $2.05B, with 94.3% in floating rate investments, benefiting from higher interest rates but posing borrower sustainability risks. The current dividend yield is 10.7%, with net investment income fully supporting the distribution, providing reliable high-yield income for investors.
Neutral
Business Wire
2 weeks ago
Nuveen Churchill Direct Lending Corp. Prices Public Offering of $300 Million 6.650% Notes Due 2030
NEW YORK--(BUSINESS WIRE)--Nuveen Churchill Direct Lending Corp. (the “Company,” “we,” “us” or “our”) (NYSE: NCDL) today announced that it has priced an underwritten public offering of $300 million in aggregate principal amount of 6.650% unsecured notes due 2030 (the “Notes”). The Notes will mature on March 15, 2030, and may be redeemed in whole or in part at the Company's option at any time prior to February 15, 2030, at par plus a “make-whole” premium plus accrued interest. The Notes will bea.
Positive
Seeking Alpha
1 month ago
Nuveen Churchill Direct Lending: 10.5% Yielding BDC In Our Buy Zone
Nuveen Churchill Direct Lending is a newly IPO'd BDC with strong fundamentals, trading at a 4.3% discount to NAV. NCDL boasts a diversified portfolio, heavily weighted towards first-lien loans (90.6%), positioning it well for economic volatility. Solid balance sheet with no near-term debt maturities and a leverage ratio below the sector median, indicating potential for growth.
Positive
Seeking Alpha
1 month ago
Nuveen Churchill Direct Lending: Why I Am Following Insider And Buying This BDC
Nuveen Churchill Direct Lending is a promising BDC with a market cap of $946M, offering an attractive 10.4% yield and a -4.9% NAV discount. Insider buying, including recent CEO share purchases, signals strong confidence in NCDL's near-term future and the potential for a BDC sector rebound. Despite being relatively unnoticed since its IPO, NCDL's portfolio has been meticulously developed by Nuveen, making it a compelling addition to a high-yield income portfolio.
Neutral
Seeking Alpha
2 months ago
Distribution/Dividend Coverage: Why It's Important And What Investors Need To Know
"Distribution Coverage" sounds very important and critical. So what is it? It involves identifying the cash flow sources of distributions from different types of closed-end funds, and how stable and predictable those sources appear to be. Credit funds and Equity funds have very different sources of distributions - some very stable and predictable, others more volatile.
Positive
Seeking Alpha
2 months ago
Nuveen Churchill Direct Lending: The Market Is Sleeping On This BDC
NCDL is a business development company, offering high income potential for its shareholders. Its portfolio is defensively structured with a high degree of diversification, first-lien exposure, and low non-accruals. NCDL's outstanding regular dividend coverage provides a wide margin of safety in the case of further interest rate cuts (sensitivity analysis provided).
Positive
Seeking Alpha
2 months ago
NCDL: Excellent Performance, Supported By IPO-Related Fee Waivers
We take a look at the BDC Nuveen Churchill Direct Lending (NCDL) Q3 results. NCDL trades at a 13.1% dividend yield and a 7% discount to book. The company's portfolio focuses on the tech and healthcare sectors, with an above-average first-lien portfolio and strong diversification across 202 positions.
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