This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Walter Investment Management Corp. Announces Financing Plans





TAMPA, Fla., Dec. 3, 2013 /PRNewswire/ -- Walter Investment Management Corp. (NYSE: WAC) (the " Company") announced today that it plans to enter into a new secured credit agreement of $1,625 million providing for new secured credit facilities (the "New Secured Credit Facilities"), including a $125 million revolving credit facility and a $1,500 million term loan facility. The New Secured Credit Facilities will be guaranteed, subject to certain exceptions, by each of the Company's current and future wholly-owned domestic subsidiaries and secured, subject to certain exceptions, on a first priority basis by substantially all assets of the Company and the guarantors.

The Company also intends to effect a private offering of $500 million aggregate principal amount of its senior notes due 2021 (the " Notes"). The Notes will be guaranteed on an unsecured senior basis by each of the Company's current and future wholly-owned domestic subsidiaries that guarantees its obligations under the Company's New Secured Credit Facilities.

The Company intends to use borrowings under its New Secured Credit Facilities, together with the net proceeds from the proposed Notes offering, to finance the acquisition of MSRs, to repay indebtedness outstanding under its existing secured credit agreement and to pay related fees and expenses.

The Notes will be offered only to qualified institutional buyers under Rule 144A of the Securities Act of 1933, as amended (the " Securities Act"), and to certain non-U.S. persons in transactions outside the United States under Regulation S of the Securities Act. The initial issuance and sale of the Notes will not be registered under the Securities Act, and, the Notes may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and other applicable securities laws. We expect that the terms of the Notes will provide for customary registration rights.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the Notes or any other securities, nor shall there be any sale of the Notes or any other securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,928.20 -142.20 -0.79%
S&P 500 2,089.46 -25.03 -1.18%
NASDAQ 4,939.3270 -77.6020 -1.55%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs