Kenneth J. Kencel, CEO and President of Nuveen Churchill Direct Lending Corp. (NASDAQ:NCDL), a $948 million market cap company known for its substantial 10.4% dividend yield, made significant stock purchases according to a recent SEC filing. On November 27, Kencel acquired a total of 20,000 shares of common stock at a price of $17.3503 per share, amounting to a total transaction value of $347,006. The shares were purchased indirectly, with 10,000 shares acquired by a spouse and another 10,000 by a trust. Following these transactions, Kencel holds 26,824 shares in a joint account.
In other recent news, Nuveen Churchill Direct Lending Corp. has broadened its financial reach by expanding its credit facility with Wells Fargo (NYSE:WFC) Bank, National Association. The company and its affiliate borrower, Nuveen Churchill BDC SPV V, LLC, amended their loan and security agreement, raising the committed facility amount from $150 million to $225 million. This move, as detailed in a recent SEC filing, indicates an enhanced capacity for Nuveen Churchill to provide direct loans.
The amended agreement, initially established at the end of 2019, now provides an additional $75 million in capital. Multiple lenders and issuing banks are involved in this Wells Fargo Financing Facility, with Nuveen Churchill also participating as an equity investor. This strategic expansion of the credit facility could potentially enhance Nuveen Churchill's investment activities and portfolio of direct loans.
The exact terms of the Fifth Amendment to the loan and security agreement are available in the SEC filing. However, the critical development for investors is the increase in available capital that Nuveen Churchill may utilize for further lending opportunities. These are among the recent developments for the company, which continues to operate out of its New York office.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.