In This Story
Nuveen Churchill Direct Lending Corp. (NCDL-0.45%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing total assets of $2,140,110,000 and total net assets of $990,609,000. The company reported a net asset value per share of $18.15.
Investment income for the quarter was $60,280,000, with net investment income totaling $31,489,000. Total expenses before expense support and incentive fees waived were $34,287,000.
The company reported a net increase in net assets resulting from operations of $36,643,000 for the quarter. This includes a net realized gain on investments of $1,086,000 and a net change in unrealized appreciation of $4,068,000.
Nuveen Churchill Direct Lending Corp. had 54,485,518 shares of common stock outstanding as of November 5, 2024. The company issued 3,560,000 shares through reinvestment of shareholder distributions during the quarter.
Cash and cash equivalents at the end of the period were $69,354,000, with cash provided by operating activities totaling $(309,184,000) and cash provided by financing activities totaling $311,093,000.
The company continues to focus on investing in senior secured loans to private equity-owned U.S. middle market companies, with a portfolio primarily comprised of first-lien senior secured debt and unitranche loans.
The filing also details various financial agreements, including secured borrowings and revolving credit facilities, which are used to finance a portion of the company's investments.
Nuveen Churchill Direct Lending Corp. does not anticipate cash dividend payments to common stockholders in the near future, as it continues to reinvest earnings into its investment strategy.
The company identified no material weaknesses in its internal controls over financial reporting during the quarter.
Nuveen Churchill Direct Lending Corp. remains committed to generating attractive risk-adjusted returns through its investment strategy, focusing on U.S. middle market companies.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Nuveen Churchill Direct Lending Corp. quarterly 10-Q report dated November 7, 2024. To report an error, please email earnings@qz.com.