Every 8-K that Nuveen Churchill Direct Lending Corp (NCDL) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 8-K covers material events a company has to report between its quarterly reports, so if you follow NCDL and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full NCDL filings page.
Nuveen Churchill Direct Lending Corp. reported second‑quarter 2026 net investment income of $20.2 million, or $0.41 per share, on investment income of $44.3 million versus $53.1 million a year earlier. After $11.3 million of realized losses and $5.4 million of net unrealized losses, the net increase in net assets from operations was $3.6 million, or $0.07 per share. Net asset value per share was $17.19, down from $17.50 at March 31, 2026.
The board declared a third‑quarter 2026 distribution of $0.38 per share (regular $0.36 plus $0.02 supplemental), matching the total paid for the second quarter on July 28, 2026. The investment portfolio totaled $1.9 billion at fair value across 244 companies and was 89.6% first‑lien debt, 7.3% subordinated debt and 3.1% equity. Investments in nine portfolio companies were on non‑accrual status, representing 1.5% of total investments at fair value.
As of June 30, 2026, the company held $45.8 million in cash and cash equivalents, $1.1 billion of debt and $849.0 million of net assets, for a debt‑to‑equity ratio of 1.29x (1.23x net). Subsequent actions included redeeming a $297.9 million CLO at par with $302.5 million of proceeds, forming a joint venture with an institutional investor, and issuing an additional $100 million of 2030 Notes alongside a $100 million interest‑rate swap.
Nuveen Churchill Direct Lending Corp. issued an additional $100.0 million in aggregate principal amount of its 6.650% Notes due 2030, under an underwriting agreement with SMBC Nikko Securities America, Inc.
These additional notes form a single series with the existing $300.0 million of 6.650% Notes due 2030, bringing total 2030 Notes outstanding to $400.0 million. The notes pay interest semi-annually and mature on March 15, 2030, with an issuer call option before February 15, 2030 at par plus a make-whole premium.
The company intends to use net proceeds to repay a portion of its senior secured revolving credit facility with Sumitomo Mitsui Banking Corporation, with the ability to re-borrow under that facility for investments and general corporate purposes. The notes are direct unsecured obligations and rank pari passu with other unsubordinated unsecured debt and are effectively and structurally subordinated as described in the Indenture.
Nuveen Churchill Direct Lending Corp. reported the results of its 2026 virtual annual meeting of shareholders. Shareholders of record as of March 31, 2026 could vote, with 49,387,065 shares of common stock outstanding and entitled to vote.
A quorum of 25,732,027 shares was present or represented by proxy, allowing business to be conducted. Shareholders elected Class III directors to serve until the 2029 annual meeting. Kenneth Kencel received 25,473,474 votes for and 258,553 votes withheld, while Stephen Potter received 23,945,683 votes for and 1,786,344 votes withheld.
Nuveen Churchill Direct Lending Corp. reported first quarter 2026 results highlighted by net investment income of $20.0 million, or $0.41 per share, and a net increase in net assets from operations of $8.7 million, or $0.18 per share.
Net asset value per share was $17.50, down slightly from $17.72 as of December 31, 2025. The company paid a first quarter distribution of $0.40 per share and declared a second quarter distribution of $0.38 per share, consisting of a $0.36 regular and $0.02 supplemental distribution.
The investment portfolio totaled $2.0 billion at fair value across 236 portfolio companies, with approximately 89.7% in first-lien debt and a weighted average yield on debt and income-producing investments of 9.3% at cost. Five portfolio companies were on non-accrual, representing 0.6% of total investments at fair value.
Investment income was $46.3 million for the quarter, down from $53.6 million a year earlier, while net expenses were broadly stable at $26.2 million. As of March 31, 2026, the company held $50.4 million in cash and cash equivalents, had $1.1 billion of total debt outstanding and reported a debt-to-equity ratio of 1.32x, with approximately $233.0 million available under its revolving credit facility.
Nuveen Churchill Direct Lending Corp. adopted a Rule 10b5-1 share repurchase plan allowing it to buy back up to $50.0 million of its common stock in the open market. Purchases may occur only when the stock trades below the most recently reported net asset value per share.
The plan, executed through BofA Securities, Inc. as agent, scales purchase volume higher if the share price declines, subject to trading volume limits. It becomes effective on March 24, 2026 and will end once the 12-month term expires, the full $50.0 million is used, or other specified termination events occur.
Nuveen Churchill Direct Lending Corp. reported solid but moderating results for the fourth quarter and full year 2025. For the quarter, net investment income was $0.44 per share and the net increase in net assets from operations was $0.32 per share. Net asset value per share edged down to $17.72 from $17.85.
For 2025, net investment income was $93.3 million, or $1.86 per share, down from $2.26 in 2024, while return on equity on net investment income was 9.8%. The company paid $1.90 per share of distributions in 2025 and has reset its regular quarterly distribution, declaring a first-quarter 2026 payout of $0.40 per share (regular $0.36 plus supplemental $0.04). The board also authorized a $50 million share repurchase program.
The investment portfolio stood at $2.0 billion across 227 portfolio companies, with 89.5% in first-lien debt and a weighted average yield of 9.6%. Credit quality remained strong, with only 0.5% of investments at fair value on non-accrual and a weighted average internal risk rating of 4.2. As of December 31, 2025, the company held $62.5 million in cash and cash equivalents, total debt of $1.1 billion, a debt-to-equity ratio of 1.27x, and about $259 million of additional borrowing capacity on its revolving credit facility, supporting total liquidity of roughly $321 million.
Nuveen Churchill Direct Lending Corp. is refinancing a term debt securitization through its wholly owned subsidiary Churchill NCDLC CLO-II, LLC. On or around February 20, 2026, the subsidiary expects to amend its existing indenture and issue new notes and loans.
The 2026 Debt is expected to include $125.5 million of AAA Class A-R Notes and $50 million of AAA Class A-L-R Loans, each bearing interest at three-month Term SOFR plus 1.38%, and $37.5 million of AA Class B-R Notes bearing interest at three-month Term SOFR plus 1.70%. The structure also includes $86.7 million of Subordinated Notes, which do not bear interest and will be retained by the Company.
The debt is backed by a diversified portfolio of senior secured and second lien loans. Principal collections on the collateral may be reinvested through January 20, 2031, and the 2026 Debt is expected to mature on January 20, 2039. The Company will continue to act as collateral manager and waive any management fee for these services.
Nuveen Churchill Direct Lending Corp. (NCDL) furnished materials announcing its financial results for the third quarter ended September 30, 2025. The company issued a press release and an earnings presentation, attached as Exhibits 99.1 and 99.2.
These materials are being furnished under Items 2.02 and 7.01 and are not deemed “filed” for liability purposes under the Exchange Act. The company will host a conference call on November 4, 2025 to discuss the results.
Event: Nuveen Churchill Direct Lending Corp. (NCDL) filed a Form 8-K dated August 6, 2025 announcing it issued a press release with financial results for the second quarter ended June 30, 2025 and will host a conference call the same day to discuss those results.
Attachments: Exhibit 99.1 (press release dated August 6, 2025), Exhibit 99.2 (Second Quarter 2025 Earnings Presentation), and Exhibit 104 (Cover Page Interactive Data File). The materials are furnished, not "filed," under Section 18 of the Exchange Act. The report is signed by CEO Kenneth J. Kencel.