Walker & Dunlop closed a $200 million incremental loan under its senior secured term loan facility. The incremental term loan bears interest at a rate equal to adjusted Term SOFR plus 3.00% per annum and matures in December 2028. JP Morgan served as administrative agent and lead arranger.

Proceeds from the offering will be used to repay debt assumed in the company’s acquisition of Alliant Capital and strengthen its balance sheet for general corporate purposes. The payoff of the Alliant debt will reduce the company’s annual debt service payments by eliminating mandatory principal repayments required by the Alliant Capital debt, partially offset by the increased cost of capital, and create operational efficiency as it manages its capital strategy.