TORONTO, May 11, 2017 /CNW/ - Home Capital Group Inc.
("The Company" TSX: HCG) today provided an update on the Company's
liquidity position.
Liquid assets stood at approximately $1.02 billion as of end of day May 10, 2017 and combined with the undrawn amount
of $600 million under the Company's
$2.0 billion credit facility led by
HOOPP, the Company's aggregate available liquidity and credit
capacity totaled approximately $1.62
billion.
Home Trust's High Interest Savings Account (HISA) deposit
balances are expected to be approximately $128 million on May 11,
2017 after the settlement of transactions that took place on
May 10, 2017.
Total Guaranteed Investment Certificate (GIC) deposits,
including Oaken and broker GICs, stood at $12.54 billion and Oaken savings accounts stood
at $155 million as at May 9, 2017.
Home Trust's GICs and HISA deposits are eligible for Canada
Deposit Insurance Corp. coverage.
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.