TORONTO, April 26, 2016 /CNW/ - Home Capital Group
Inc. ("Home Capital") (TSX: HCG) today announced its intention to
redeem all $150 million aggregate
principal amount of its 5.20% debentures due May 4, 2016 (the "Debentures") for cash on
May 4, 2016 (the "Maturity Date"), at
a redemption price per $1,000
principal amount of the Debentures equal to: (i) $1,000, plus (ii) accrued and unpaid interest of
$26.00 on the principal amount of the
Debentures so redeemed up to and including the Maturity Date. On
the Maturity Date, Home Trust Company intends to redeem or purchase
for cancellation $156,000,000 of
subordinated debt held by Home Capital.
After the Maturity Date, the Debentures will cease to bear
interest, cease to be outstanding and all rights with respect to
such Debentures will cease, except only the right of the holders
thereof to receive the Redemption Price, less any taxes required by
law to be withheld or deducted. Upon surrender of any of the
Debentures called for redemption in accordance herewith, such
Debentures shall be paid by the Company or its agent at the
Redemption Price (which includes all accrued interest up to and
including the Maturity Date), less any taxes required by law to be
withheld or deducted.
About Home Capital and Home Trust
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 first 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,
CFF 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.