Walker & Dunlop to launch $250 million term loan B on Thursday

By Sara Rosenberg

New York, Oct. 16 – Walker & Dunlop Inc. is set to hold a lender meeting at 10 a.m. ET in New York on Thursday to launch a $250 million seven-year term loan B, according to a market source.

Wells Fargo Securities LLC and J.P. Morgan Securities LLC are the lead arrangers on the deal.

The term loan has 101 soft call protection for six months, amortization of 1% per annum and an asset coverage ratio of 1.5 times, the source said.

Commitments are due at 5 p.m. ET on Nov. 1, the source added.

Proceeds will be used to refinance an existing term loan B and for general corporate purposes.

Expected term loan ratings are Ba2/BB+.

Walker & Dunlop is a Bethesda, Md.-based provider of commercial real estate financial services.

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