Company Website:
http://www.homecapital.com
TORONTO -- (Business Wire)
Home Capital Group Inc. (TSX: HCG) (“Home Capital” or the “Company”) is
pleased to announce the closing of the previously announced two year
$500 million committed standby secured funding facility (the “Credit
Facility”) entered into by its subsidiary, Home Trust Company, and Bank
of Montreal and Royal Bank of Canada. The Credit Facility replaces a $2
billion credit facility provided by a wholly owned subsidiary of
Berkshire Hathaway Inc. that matured today.
The Company does not intend to draw on the Credit Facility in the
ordinary course of business as its current liquidity profile provides
sufficient liquidity and funding for its business activities. Any draws
on the Credit Facility will be secured against a portfolio of mortgages
originated by Home Trust Company.
Caution Regarding Forward-looking Statements
This press release contains forward-looking information within the
meaning of applicable Canadian securities legislation, including
relating to the Company’s expectations regarding its future liquidity
and access to debt financing. Please refer to the Home Capital's 2017
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180629005739/en/
Contacts:
Home Capital Group Inc.
Laura Lepore, 416-933-5652
Assistant
Vice President, Investor Relations
laura.lepore@hometrust.ca
Source: Home Capital Group Inc.
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