04:48 PM EST, 03/07/2025 (MT Newswires) -- Walker & Dunlop ( WD ) priced an amended $450 million senior secured credit agreement.

The term loan under the amended agreement will initially pay interest at a rate equal to SOFR plus 2%, the company said Friday in a statement.

After the first full fiscal quarter ending after the closing date, the interest margin on the loan will be subject to a 25 basis points step down if Walker & Dunlop's ( WD ) total leverage ratio is equal to or less than 2-to-1.

The amended agreement will include a $50 million three-year revolving credit facility that will pay interest at a rate equal to SOFR plus 1.75%, the company said.

Proceeds from an offering of $400 million of notes due 2033 and the amended credit agreement will be to reduce the principal amount under a term loan agreement, among other things.