BETHESDA, Md., Nov. 7, 2018 /PRNewswire/ -- Walker & Dunlop,
Inc. (the "Company") announced today that it has closed on the
refinance of its senior secured seven-year term loan. The refinance
launched at $250 million but was
increased to $300 million due to
strong demand from institutional investors. The term loan
amortizes at a rate of $3 million per
year and bears interest at 30-day LIBOR plus 2.25 percent, a 75
basis point reduction in interest spread from the Company's
existing senior credit facility. Wells Fargo served as Administrative Agent and Joint
Lead Arranger with JPMorgan.
Proceeds from the offering will be used to repay the Company's
existing senior secured term loan of $165
million, fund strategic acquisition opportunities, grow its
asset management platform, increase balance sheet lending
capabilities, and support dividend payments and share repurchase
activities.
About Walker & Dunlop
Walker & Dunlop
(NYSE: WD), headquartered in Bethesda,
Maryland, is one of the largest commercial real estate
finance companies in the United
States. The company provides a comprehensive range of
capital solutions for all commercial real estate asset classes, as
well as investment sales brokerage services to owners of
multifamily properties. Walker & Dunlop is included on the
S&P SmallCap 600 Index and was ranked as one of FORTUNE
Magazine's Fastest Growing Companies in 2014, 2017, and
2018. Walker & Dunlop's 700+ professionals in 29 offices
across the nation have an unyielding commitment to client
satisfaction.
Forward Looking Statements
The statements contained in this press release regarding planned
use of proceeds constitute forward-looking statements within the
meaning of the federal securities laws.
The forward-looking statements reflect our current views about
future events and are subject to numerous known and unknown risks,
uncertainties, assumptions and changes in circumstances that may
cause actual results to differ significantly from those expressed
or contemplated in any forward-looking statement.
While the forward-looking statements reflect our good faith
projections, assumptions and expectations, they are not guarantees
of future results. Furthermore, we disclaim any obligation to
publicly update or revise any forward-looking statement to reflect
changes in underlying assumptions or factors, new information, data
or methods, future events or other changes, except as required by
applicable law.
For a further discussion of these and other factors that could
cause future results to differ materially from those expressed or
contemplated in any forward-looking statements, see the section
titled ''Risk Factors" in our most recent Annual Report on Form
10-K, as it may be updated or supplemented by our Quarterly Reports
on Form 10-Q and our other filings with the SEC. Such filings
are available publicly on our Investor Relations web page
at www.walkerdunlop.com.
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SOURCE Walker & Dunlop, Inc.