Walker & Dunlop amends credit facility; secures temporary $1.9B advance option from PNC

Walker & Dunlop, Inc.

Twelfth amendment to warehousing credit agreement with PNC allows one-time Limited Bulge Advance up to $1.9B.
Advance option available from May 12 to June 12, 2022; drawn amount increases credit limit for 60 days.
Pricing for bulge advance set at 30-Day Average SOFR + 1.15%; standard pricing changed to Term SOFR + 1.30%.
Limited Bulge Credit Limit capped at $2.9B; bulge commitment fee of 10 bps on drawn amount prorated daily.

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