Nuveen Churchill unit ups facility to $250 million, ups interest rate

By William Gullotti

Buffalo, N.Y., Oct. 6 – Nuveen Churchill Private Capital Income Fund wholly owned subsidiary Ncpif SPV I, LLC entered into a first amendment on Oct. 4 to its loan and servicing agreement dated April 19 to increase the maximum facility amount to $250 million from $200 million, according to an 8-K filing with the Securities and Exchange Commission.

In addition to increasing the maximum facility amount, the amendment increased the rate to be paid to SOFR plus 215 basis points from SOFR plus 200 bps, likewise upping the step-up rate on the one-year anniversary to SOFR plus 240 bps from SOFR plus 215 bps.

Advances under the loan agreement are secured by a pool of broadly syndicated and middle-market loans subject to eligibility criteria and advance rates specified in the agreement.

Advances may be prepaid and reborrowed at any time during the availability period.

Bank of America, NA is the administrative agent, lead arranger and book manager. U.S. Bank Trust Co., NA is the collateral administrator with U.S. Bank NA serving as collateral custodian.

Nuveen Churchill is a New York-based private business development company investing primarily in senior secured loans to private equity-owned U.S. middle market companies.

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