TORONTO, May 23, 2017 /CNW/ - Home Capital Group Inc. ("The Company" TSX: HCG) today provided an update on the Company's liquidity position as of Monday, May 22, 2017. The Company continues to maintain sufficient aggregate liquidity and credit capacity.
- Aggregate available liquidity and credit capacity of approximately $1.46 billion including the undrawn amount of $600 million under the Company's $2.0 billion credit facility at end of day May 22.
- The Company also reports that it has today received an additional draw of $250 million on its credit facility in preparation for the repayment of deposit notes which is scheduled for Wednesday, May 24, 2017. The undrawn portion of the credit facility stands at $350 million, as of today.
- Home Trust High Interest Savings Account (HISA) deposit balances stood at approximately $115 million.
- Total Guaranteed Investment Certificate (GIC) deposits, including Oaken and broker GICs, stood at approximately $12.33 billion and Oaken savings accounts stood at approximately $144 million.
AGGREGATE LIQUIDITY AND CREDIT CAPACTIY AND DEPOSIT BALANCES
| Aggregate Liquidity
and Credit Capacity
(C$ Billions) | HISA (C$ millions) | Oaken Savings (C$ millions) | GIC (C$ millions) | *GICs in a cashable
position
(C$ millions) |
May 22 | $1.46 | $115.0 | $144.3 | $12,332.8 | $144 |
May 19 | $1.46 | $115.0 | $146.1 | $12,330.4 | $144 |
May 18 | $1.47 | $116.2 | $145.8 | $12,339.7 | $144 |
May 17 | $1.47 | $120.2 | $145.2 | $12,347.9 | $146 |
May 16 | $1.48 | $116.8 | $146.0 | $12,363.2 | $153 |
May 15 | $1.48 | $120.9 | $146.1 | $12,382.4 | $160 |
May 12 | $1.51 | $125.4 | $150.5 | $12,438.3 | $167 |
May 11 | $1.56 | $125.5 | $153.6 | $12,485.9 | $198 |
May 10 | $1.61 | $129.1 | $155.2 | $12,517.7 | $202 |
May 9 | $1.60 | $134.2 | $155.4 | $12,539.3 | $209 |
May 8 | $1.71 | $146.9 | $158.7 | $12,583.3 | $228 |
*GICS in a cashable position are included in the total GIC deposit balances reported daily.
Home Trust and Home Bank are members of CDIC. Deposits with each are separately eligible for CDIC coverage up to applicable limits.
Caution Regarding Forward-looking Statements
This press release contains forward-looking information within the meaning of applicable Canadian securities legislation. Please refer to the Home Capital's 2016 Annual Report, available on Home Capital's website at www.homecapital.com, and on the Canadian Securities Administrators' website at www.sedar.com, for Home Capital's Caution Regarding Forward-looking Statements.
About Home Capital Group Inc.
Home Capital Group Inc. is a public company, traded on the Toronto Stock Exchange (HCG), operating through its principal subsidiary, Home Trust Company. Home Trust is a federally regulated trust company offering residential and non-residential mortgage lending, securitization of insured residential mortgage products, consumer lending and credit card services. In addition, Home Trust offers deposits via brokers and financial planners, and through its direct to consumer deposit brand, Oaken Financial. Home Trust also conducts business through its wholly owned subsidiary, Home Bank. Licensed to conduct business across Canada, Home Trust has offices in Ontario, Alberta, British Columbia, Nova Scotia, Quebec and Manitoba.
SOURCE Home Capital Group Inc.
View original content: http://www.newswire.ca/en/releases/archive/May2017/23/c6527.html
Media: Boyd Erman, Longview Communications Inc. (416) 649-8007 berman@longviewcomms.ca, or, Peter Block, Longview Communications Inc. (416) 649-8008 pblock@longviewcomms.ca; Investors: Laura Lepore, Assistant Vice President, Investor Relations, (416) 933-5652, laura.lepore@hometrust.ca