TORONTO, Aug. 17, 2017 /CNW/ - Home Capital Group
Inc. ("Home Capital" or "the Company") (TSX: HCG) today announced
that it completed the final tranche of an arrangement to sell
certain commercial mortgage assets as previously announced. To
date, the Company has received an aggregate amount of approximately
$1.2 billion on the sale and
discharges of commercial mortgages in connection with its
initiatives to increase liquidity.
As of August 16, 2017, the
Company's aggregate available liquidity and credit capacity stood
at approximately $4.22 billion
including an undrawn amount of $2
billion under the Company's credit facility agreement with
Berkshire Hathaway.
Caution Regarding Forward-looking Statements
This press release contains forward-looking information within
the meaning of applicable Canadian securities legislation. Please
refer to 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.