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SEC Filings

DITECH HOLDING CORP filed this Form T-3 on 11/06/2017
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2.      Master Securities Forward Transaction Agreement, dated as of May 22, 2017, between Barclays Capital, Inc. and Ditech (“Existing Barclays MSFTA” and, collectively, the “Existing Lenders’ MSFTAs”).


3.      Opcos are also party to other existing hedging agreements between Opcos and hedge counterparties other than the Lenders or their respective affiliates (the “Other Hedges”). 1

DIP Warehouse Facility:   

Subject to the terms and conditions set forth herein and upon entry by the Bankruptcy Court of an interim financing order in the form and substance agreed to by Walter and the Lenders (the “Interim DIP Order”) in connection with the Case, the Credit Parties shall enter into the following DIP Warehouse Facility Agreements with Opcos, which if acceptable to the Lenders, may be effected by amending the applicable Prepetition Warehouse Facility Agreements to, among other things, contemplate operating under such agreements during the Case, in each case on terms mutually satisfactory to the Lenders and Ditech and RMS, as applicable (provided that the DIP Warehouse Facility Agreements and the Exit Facility Agreements (as defined below) must be entered into exclusively with the Credit Parties), subject to the DIP Commitment Cap or Exit Commitment Cap, as applicable:2,3


(a)    Agreement(s) between the Credit Parties and Ditech with a maximum committed amount of $750,000,000, to replace and refinance certain of the Prepetition Forward Warehouse Facility Agreements (the “New Forward Origination Facility Agreement”). The maximum commitment amount under the New Forward Origination Facility Agreement shall increase to $1 billion upon the occurrence of the Effective Date (for the avoidance of doubt, the Exit Commitment Cap shall still apply);



1  Trading under Other Hedges listed on the schedule provided to the Lenders on November 2, 2017 shall be permitted during the Case; provided, that, any additional guaranties in connection with the Other Hedges and any additional Other Hedge must be approved by Administrative Agent (at the direction of Required Lenders).
2  Documentation will be based principally on existing documentation with such modifications as mutually agreed by each Lender and the other parties and existing in this term sheet. To the extent feasible, terms and conditions will be effectuated by modifications and/or amendments.
3  The commitments are to be provided by Credit Suisse (and/or its affiliates) and Barclays as set forth in Section “Participation Agreement among Lenders; Voting Rights” hereof, with transactions thereunder to be funded on a pro rata basis by the Lenders in accordance with their applicable percentages of the committed amount pursuant to such funding mechanisms as mutually agreed among the Lenders.