Walter Investment completes $200 million incremental term loan

By Sara Rosenberg

New York, June 11 - Walter Investment Management Corp. closed on a $200 million incremental term loan due Nov. 28, 2017 that is priced at Libor plus 450 basis points with a 1.25% Libor floor, according to an 8-K filed with the Securities and Exchange Commission on Tuesday.

There is no repricing protection under this incremental loan.

Credit Suisse Securities (USA) LLC is the administrative agent on the deal that was completed on June 6.

Proceeds will be used to increase liquidity, to fund working capital requirements relating to the company's mortgage origination business and for other general corporate purposes.

Walter Investment is a Tampa, Fla.-based asset manager, mortgage servicer and mortgage portfolio.

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