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Walker & Dunlop to Amend and Upsize Senior Secured Term Loan

December 13, 2022, 07:51 AM
Filed Under: Real Estate

Walker & Dunlop announced plans to borrow an incremental $200 million under its senior secured term loan agreement, increasing the total outstanding principal balance to $795 million. The Company will use $115 million of the proceeds to refinance debt assumed in the acquisition of Alliant Capital, and the remaining $85 million of proceeds will be used to strengthen its balance sheet for general corporate purposes. By refinancing the debt assumed in the acquisition of Alliant, the Company will significantly reduce its annual debt service payments and create greater operational efficiency as the Company manages its capital strategy moving forward.

JP Morgan is leading the marketing of the incremental borrowing, which is expected to have conventional terms for this type of financing and is anticipated to close in January 2023, subject to market and other customary conditions. The Company expects to receive ratings from Standard & Poor's and Moody's Investors Services related to this transaction.

Walker & Dunlop is one of the largest providers of capital to the commercial real estate industry in the United States, enabling real estate owners and operators to bring their visions of communities — where Americans live, work, shop and play — to life. Our people, brand and technology make W&D one of the most insightful and customer-focused firms in our industry. With more than 1,400 employees across every major U.S. market, Walker & Dunlop has consistently been named one of Fortune's Great Places to Work® and is committed to making the commercial real estate industry more inclusive and diverse while creating meaningful social, environmental, and economic change in our communities.

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