Walker & Dunlop To Borrow Incremental $200 Mln Under Senior Secured Term Loan Agreement

(RTTNews) - Walker & Dunlop, Inc. (WD) said it plans to amend and upsize senior secured term loan which will help the company refinance the debt assumed in the acquisition of Alliant. The company expects to receive ratings from Standard & Poor's and Moody's Investors Services related to this transaction.

Under senior secured term loan agreement, Walker & Dunlop plans to borrow an incremental $200 million, 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.