Walter Investment (WAC -1.8%) will pay $1.07B to buy privately-held Green Tree Credit Solutions,...

|About: Walter Investment Manage... (WAC)|By:, SA News Editor

Walter Investment (WAC -1.8%) will pay $1.07B to buy privately-held Green Tree Credit Solutions, a hefty offer from a mortgage servicer with a market cap of just under $500M. The company will issue 1.8M shares of common stock, assume ~$20M of existing Green Tree debt, and issue $765M of new debt to finance the deal. (PR)