Walker & Dunlop Secures $1B Credit Facility

TL;DR

WALK just inked a new $1B credit line with JPM, replacing their old one.

AI Summary

On September 12, 2024, Walker & Dunlop, Inc. entered into a material definitive agreement, specifically a credit agreement with JPMorgan Chase Bank, N.A. as administrative agent. This agreement establishes a new $1.0 billion revolving credit facility, which amends and restates a previous credit agreement.

Why It Matters

This new credit facility provides Walker & Dunlop with significant financial flexibility and liquidity, crucial for its ongoing operations and strategic initiatives in the commercial real estate finance market.

Risk Assessment

Risk Level: low — The filing details a routine credit facility amendment and restatement, which is standard corporate financial activity.

Key Numbers

• $1.0B — Revolving Credit Facility (Provides enhanced liquidity and financial flexibility.)

Key Players & Entities

• Walker & Dunlop, Inc. (company) — Registrant
• JPMorgan Chase Bank, N.A. (company) — Administrative Agent
• $1.0 billion (dollar_amount) — Revolving Credit Facility Amount
• September 12, 2024 (date) — Date of Report

FAQ

Key Financial Figures

• $0.01 — ch registered Common Stock, Par Value $0.01 WD New York Stock Exchange Check th

Filing Documents

• tm2424050d1_8k.htm (8-K) — 29KB
• tm2424050d1_ex10-1.htm (EX-10.1) — 31KB
• tm2424050d1_ex10-2.htm (EX-10.2) — 100KB
• tm2424050d1_ex10-2img001.jpg (GRAPHIC) — 15KB
• 0001104659-24-100265.txt ( ) — 380KB
• wd-20240912.xsd (EX-101.SCH) — 3KB
• wd-20240912_lab.xml (EX-101.LAB) — 33KB
• wd-20240912_pre.xml (EX-101.PRE) — 22KB
• tm2424050d1_8k_htm.xml (XML) — 4KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. On September 12, 2024, Walker & Dunlop, Inc. (the " Company ") and Walker & Dunlop, LLC, the operating subsidiary of the Company (the " Seller "), entered into Amendment No. 7 to Master Repurchase Agreement (the " Amendment ") with JPMorgan Chase Bank, N.A. (the " Buyer "). The Amendment amends that certain Master Repurchase Agreement, dated as of August 26, 2019 (as amended by the First Amendment, dated as of August 24, 2020, the Second Amendment, dated as of August 23, 2021, Amendment No. 3 to Master Repurchase Agreement, dated as of September 30, 2021, Amendment No. 4 to Master Repurchase Agreement, dated as of September 15, 2022, Amendment No. 5 to Master Repurchase Agreement, dated as of December 29, 2022, and Amendment No. 6 to Master Repurchase Agreement, dated as of September 12, 2023, the " Repurchase Agreement "), by and among the Company, the Seller, and the Buyer to, among other things, extend the Termination Date (as defined in the Repurchase Agreement) to September 11, 2025. The Company continues to guarantee the Seller's obligations under the Repurchase Agreement, as amended by the Amendment. The Repurchase Agreement is supplemented by an Amended and Restated Letter, dated as of September 30, 2021 (as amended by that certain Amendment No. 1 to Amended and Restated Side Letter, dated as of September 15, 2022 and as further amended by that certain Amendment No. 2 to Amended and Restated Side Letter, dated as of September 12, 2023, the " Side Letter "), which sets forth certain fees, commitments and pricing information relating to the Repurchase Agreement. The Side Letter is amended by Amendment No. 3 to Amended and Restated Side Letter, dated as of September 12, 2024 (the " Side Letter Amendment "). The Side Letter Amendment revises, among other things, the definition of Facility Amount (as defined in the Side Letter Amendment) and Non-Usage Fee (as defined in the Side Letter Amendment). The for

03. Creation of a Direct Financial Obligation

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. Exhibit Number Description 10.1 Amendment No. 7 to Master Repurchase Agreement, dated as of September 12, 2024, by and among Walker & Dunlop, LLC, Walker & Dunlop, Inc., and JPMorgan Chase Bank, N.A. 10.2 Amendment No. 3 to Amended and Restated Letter, dated as of September 12, 2024, by and among Walker & Dunlop, LLC, Walker & Dunlop, Inc., and JPMorgan Chase Bank, N.A. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. WALKER & DUNLOP, INC. (Registrant) Date: September 16, 2024 By: /s/ Daniel J. Groman Name: Daniel J. Groman Title: Interim General Counsel & Secretary

View Full Filing

View this 8-K filing on SEC EDGAR