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BETHESDA, Md. - Walker & Dunlop, Inc., a leading commercial real estate finance firm, announced the pricing of a $400 million senior unsecured notes offering due in 2033. The private placement, which bypasses the registration requirements of the Securities Act of 1933, is set to close on March 14, 2025, subject to customary market and other conditions.
The notes will carry an interest rate of 6.625% per annum and are to be issued at par value. Additionally, they will be guaranteed by some of the company’s subsidiaries. Walker & Dunlop intends to use the proceeds from this offering to reduce the outstanding principal of its existing senior secured term loan, cover related fees and expenses, and for general corporate purposes.
This offering is targeted at qualified institutional buyers under Rule 144A and certain non-U.S. persons in offshore transactions under Regulation S of the Securities Act. The notes will not be available for sale to the U.S. public or to U.S. persons lacking registration or an applicable exemption from registration requirements.
Walker & Dunlop, listed on the New York Stock Exchange under the ticker (NYSE:WD), is recognized as one of the most prominent commercial real estate finance and advisory services companies, both domestically and internationally. The firm’s diversity and technological capabilities contribute to its reputation for providing insightful and client-focused services in the industry.
The company’s forward-looking statements about the expected terms and the anticipated closing date for the notes offering are based on current projections and assumptions. For detailed financial analysis and real-time updates on Walker & Dunlop’s performance metrics, investors can access the complete Pro Research Report on InvestingPro, which covers over 1,400 US stocks with comprehensive insights and actionable intelligence. However, they are subject to risks, uncertainties, and changes in circumstances that could cause actual results to differ materially. These forward-looking statements do not guarantee future performance and may be revised in response to new information or future events as required by law.
The information in this article is based on a press release statement from Walker & Dunlop, Inc.
In other recent news, Walker & Dunlop reported its fourth-quarter 2024 earnings, surpassing analyst expectations with an earnings per share (EPS) of $1.34, compared to the forecast of $1.21. The company also exceeded revenue forecasts, reporting $341.5 million against the projected $311.48 million. Additionally, Moody’s Ratings upgraded Walker & Dunlop’s senior secured bank credit facility rating to Baa3 from Ba1, reflecting the firm’s improved debt capital structure and stable outlook. The upgrade follows the company’s plan to issue a $450 million 7-year senior secured term loan B and a new $50 million revolving credit facility. Keefe, Bruyette & Woods adjusted its price target for Walker & Dunlop to $105 from $120, maintaining a Market Perform rating due to revised earnings estimates for 2025 to 2027. Despite a reduction in projected earnings per share and EBITDA, the firm noted that Walker & Dunlop shares appear more attractive based on updated valuation metrics. The company also highlighted its strategic expansion into new markets, including hospitality and European finance. These developments indicate Walker & Dunlop’s strong market positioning and ongoing strategic initiatives.
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