TORONTO, May 24, 2017 /CNW/ - Home Capital Group Inc.
("The Company" TSX: HCG) today reported it has repaid $325 million of its outstanding deposit notes due
May 24, 2017. The Company
continues to maintain sufficient aggregate liquidity and credit
capacity and provided an update on its current position as of
May 23, 2017.
- After the repayment of deposit notes, the Company's aggregate
available liquidity and credit capacity stood at approximately
$1.14 billion including the undrawn
amount of $350 million under the
Company's $2.0 billion credit
facility.
- Home Trust High Interest Savings Account (HISA) deposit
balances stood at approximately $113
million.
- Total Guaranteed Investment Certificate (GIC) deposits,
including Oaken and broker GICS, stood at approximately
$12.30 billion and Oaken savings
accounts stood at approximately $145
million.
AGGREGATE LIQUIDITY AND CREDIT CAPACITY AND DEPOSIT
BALANCES
|
Aggregate
Liquidity
and Credit Capacity (C$ Billions)
|
HISA (C$ millions)
|
Oaken
Savings (C$
millions)
|
GIC (C$
millions)
|
*GICS in a
cashable
position
(C$ millions)
|
May 23
|
$1.14
|
$113.3
|
$145.3
|
$12,296.3
|
$145
|
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
|
$228
|
*GICS in a cashable
position are included in the total GIC deposit balances reported
daily.
|
The Company provided the following table with details on the
upcoming non-securitized contractual mortgage maturities compared
with contractual fixed term deposit maturities as of May 24, 2017.
Period
|
Non-Securitized
Contractual
Mortgage Maturities (C$ millions)
|
Contractual Fixed
Term
Deposit Maturities(1) (C$
millions)
|
Q2 2017
|
$927
|
$805
|
Q3 2017
|
$2,587
|
$1,348
|
Q4 2017
|
$2,506
|
$1,622
|
Q1 2018
|
$2,545
|
$1,581
|
Q2 2018
|
$2,189
|
$1,088
|
After Q2
2018
|
$4,321
|
$6,328
|
|
$15,076
|
$12,771
|
1.
|
The total contractual
fixed term deposit maturities exclude the Company's outstanding
credit facility balance of $1.65 billion, and HISA deposits of $113
million and Oaken Savings deposits of $145 million as of May 23,
2017.
|
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.