Walker & Dunlop Announces Pricing of $400 Million Senior Unsecured Notes
Walker & Dunlop (WD) has announced the pricing of $400 million senior unsecured notes due 2033 in a private placement. The notes will carry an interest rate of 6.625% per annum and will be issued at par value.
The notes will be guaranteed on a senior unsecured basis by certain company subsidiaries. WD plans to use the proceeds to reduce the outstanding principal amount under its existing senior secured term loan agreement, pay related fees and expenses, and for general corporate purposes.
The offering is expected to close on March 14, 2025, subject to market and customary conditions. The notes are being offered exclusively to qualified institutional buyers under Rule 144A and certain non-U.S. persons under Regulation S of the Securities Act.
Walker & Dunlop (WD) ha annunciato la quotazione di note senior non garantite da 400 milioni di dollari con scadenza nel 2033 in un collocamento privato. Le note porteranno un tasso d'interesse del 6,625% annuo e saranno emesse al valore nominale.
Le note saranno garantite su base senior non garantita da alcune sussidiarie dell'azienda. WD prevede di utilizzare i proventi per ridurre l'importo principale in sospeso ai sensi del suo attuale contratto di prestito senior garantito, pagare le spese e i costi correlati, e per scopi aziendali generali.
Si prevede che l'offerta si chiuda il 14 marzo 2025, soggetta a condizioni di mercato e consuete. Le note sono offerte esclusivamente a compratori istituzionali qualificati ai sensi della Regola 144A e a determinate persone non statunitensi ai sensi della Regolamentazione S della Securities Act.
Walker & Dunlop (WD) ha anunciado la fijación de notas senior no garantizadas por 400 millones de dólares con vencimiento en 2033 en una colocación privada. Las notas tendrán una tasa de interés del 6,625% anual y se emitirán a valor nominal.
Las notas estarán garantizadas de manera senior y no garantizada por ciertas subsidiarias de la empresa. WD planea utilizar los ingresos para reducir el monto principal pendiente bajo su acuerdo de préstamo a plazo senior garantizado, pagar tarifas y gastos relacionados, y para fines corporativos generales.
Se espera que la oferta cierre el 14 de marzo de 2025, sujeto a condiciones de mercado y habituales. Las notas se ofrecen exclusivamente a compradores institucionales calificados bajo la Regla 144A y a ciertas personas no estadounidenses bajo la Regulación S de la Ley de Valores.
워커 앤 던롭(WD)은 4억 달러 규모의 만기 2033년 무담보 선순위 채권 가격을 발표했습니다. 이 채권은 연 6.625%의 이자율을 적용받으며 액면가로 발행될 예정입니다.
채권은 회사의 특정 자회사들에 의해 무담보 선순위로 보증됩니다. WD는 수익금을 기존의 선순위 담보 대출 계약에 따른 미지급 원금 상환, 관련 수수료 및 비용 지급, 그리고 일반 기업 목적에 사용할 계획입니다.
이번 공모는 2025년 3월 14일에 종료될 것으로 예상되며, 시장 및 관례적인 조건에 따라 다를 수 있습니다. 이 채권은 144A 규정에 따라 자격을 갖춘 기관 투자자에게만 제공되며, 미국 외의 특정 개인에게는 증권법의 S 규정에 따라 제공됩니다.
Walker & Dunlop (WD) a annoncé le prix de 400 millions de dollars d'obligations senior non garanties arrivant à échéance en 2033 dans le cadre d'un placement privé. Les obligations porteront un taux d'intérêt de 6,625% par an et seront émises à la valeur nominale.
Les obligations seront garanties sur une base senior non garantie par certaines filiales de l'entreprise. WD prévoit d'utiliser les produits pour réduire le montant principal restant de son accord de prêt senior garanti existant, payer les frais et dépenses associés, et pour des fins d'entreprise générales.
La clôture de l'offre est prévue pour le 14 mars 2025, sous réserve des conditions de marché et habituelles. Les obligations sont offertes exclusivement à des acheteurs institutionnels qualifiés conformément à la règle 144A et à certaines personnes non américaines conformément à la réglementation S de la loi sur les valeurs mobilières.
Walker & Dunlop (WD) hat die Preisgestaltung von 400 Millionen Dollar senior unbesicherten Anleihen mit Fälligkeit im Jahr 2033 in einer Privatplatzierung bekannt gegeben. Die Anleihen werden einen Zinssatz von 6,625% pro Jahr tragen und zum Nennwert ausgegeben.
Die Anleihen werden von bestimmten Tochtergesellschaften des Unternehmens auf einer senior unbesicherten Basis garantiert. WD plant, die Erlöse zur Reduzierung des ausstehenden Hauptbetrags aus seinem bestehenden senior gesicherten Darlehensvertrag, zur Zahlung von damit verbundenen Gebühren und Ausgaben sowie für allgemeine Unternehmenszwecke zu verwenden.
Der Abschluss der Emission wird für den 14. März 2025 erwartet, vorbehaltlich marktüblicher Bedingungen. Die Anleihen werden ausschließlich an qualifizierte institutionelle Käufer gemäß Regel 144A und an bestimmte nicht-US-Personen gemäß der Regulierung S des Wertpapiergesetzes angeboten.
- Debt refinancing from secured to unsecured notes improves financial flexibility
- $400M offering strengthens capital structure
- 6.625% interest rate represents significant debt servicing cost
- Additional long-term debt burden through 2033
The notes will bear interest at a rate equal to
The Company intends to use the proceeds from the notes offering to reduce the outstanding principal amount under its existing senior secured term loan agreement, together with accrued and unpaid interest thereon, to pay related fees and expenses and for general corporate purposes. The closing of the notes offering is expected to occur on March 14, 2025, subject to market and other customary conditions.
The notes have not been and will not be registered under the Securities Act, or the securities laws of any state or other jurisdiction, and may not be offered or sold in
This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor will there be any sale of, the notes in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.
About Walker & Dunlop
Walker & Dunlop (NYSE: WD) is one of the largest commercial real estate finance and advisory services firms in
Forward Looking Statements
The statements regarding the expected amount, terms of and anticipated closing date for the notes offering contained in this press release may constitute forward-looking statements within the meaning of the federal securities laws.
Forward-looking statements relate to expectations, projections, plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as “may,” “will,” “should,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” or “potential” or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events or trends and which do not relate solely to historical matters. You can also identify forward-looking statements by discussions of strategy, plans, or intentions.
The forward-looking statements contained in this press release 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 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. Factors that could cause our results to differ materially include, but are not limited to: (1) general economic conditions and multifamily and commercial real estate market conditions, and (2) regulatory and/or legislative changes to Freddie Mac, Fannie Mae or HUD.
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 and any updates or supplements in subsequent Quarterly Reports on Form 10-Q and our other filings with the SEC.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250304051572/en/
Investors:
Kelsey Duffey
Investor Relations
Phone 301.202.3207
investorrelations@walkeranddunlop.com
Media:
Nina H. von Waldegg
VP, Public Relations
Phone 301.564.3291
info@walkeranddunlop.com
Phone 301.215.5500
7272 Wisconsin Avenue, Suite 1300
Source: Walker & Dunlop, Inc.
FAQ
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