Nuveen Churchill Private Capital Income Fund
09/25/2024 | Press release | Distributed by Public on 09/25/2024 12:17
Material Agreement Form 8 K
Item 1.01 Entry into a Material Definitive Agreement
Amendment to the Bank of America Credit Facility
On September 19, 2024 (the "Amendment Date"), NCPCIF SPV II, LLC ("SPV II"), a wholly-owned subsidiary of Nuveen Churchill Private Capital Income Fund (the "Fund"), entered into Amendment No. 4 to the Credit Agreement (the "Amendment"), amending the Credit Agreement, dated as of April 19, 2022 (as amended on October 4, 2022, March 21, 2023, and July 16, 2024, and as further amended by the Amendment, the "Credit Agreement"), by and among SPV II, as the borrower, the co-borrowers party thereto, the lenders party thereto, Bank of America, N.A., as administrative agent (the "Administrative Agent"), and the Fund, as servicer, relating to the revolving credit facility (the "Facility").
The Amendment, among other things: (i) increases the maximum amount available under the Facility from $150 million to $250 million and provides for a further increase to $350 million on or about March 19, 2025 (which may be increased by up to an additional $100 million through the exercise of an accordion feature, subject to the consent of the increasing lenders); (ii) extends the availability period to the third anniversary of the Amendment Date; (iii) extends the maturity date of the facility to the fifth anniversary of the Amendment Date and (iv) provides that any reduction of the maximum amount available under the Facility prior to the first anniversary of the Amendment Date will incur a prepayment penalty of 2% of the amount reduced, and any reduction on and after the first anniversary of the Amendment Date and prior to the second anniversary of the Amendment Date will incur a prepayment penalty of 0.5% of the amount reduced, and thereafter, a prepayment penalty of zero.
The description above is only a summary of the material provisions of the Amendment and is qualified in its entirety by reference to the copy of the Amendment, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference thereto.