Nuveen Churchill Direct Lending Trades at a Discount Due to Portfolio Challenges.

Business development companies (BDCs) have struggled to grow their portfolios amid an elevated interest rate environment, leading to a decline in their dividend yields. Nuveen Churchill Direct Lending, a BDC, trades at a deep discount due to concerns about its ability to generate returns in a high-interest rate environment. Despite this, the BDC's dividend yield remains relatively high.