Unlock Premium Data: Up to 50% Off InvestingProCLAIM SALE

BRIEF-Home Capital announces non-binding agreement in principle with major institutional investor for credit line of $2 bln

Published 2017-04-26, 08:03 a/m
© Reuters.  BRIEF-Home Capital announces non-binding agreement in principle with major institutional investor for credit line of $2 bln
HCG
-

April 26 (Reuters) - Home Capital Group Inc HCG.TO :

* Home Capital Announces non-binding agreement in principle with major institutional investor for credit line of $2 billion

* Home Capital Group Inc - reached a non-binding agreement in principle with a major institutional investor for a credit line in amount of $2 billion

* Home Capital Group Inc- home trust would be required to pay a non-refundable commitment fee of $100 million and make an initial draw of $1 billion

* Home Capital Group Inc - terms of proposed agreement would have a material impact on earnings

* $2 billion loan facility would be secured against a portfolio of mortgages originated by home trust

* Home capital group inc - terms of proposed agreement would leave company unable to meet previously announced financial targets

* Home capital group-access to funds is intended to mitigate impact of a decline in home trust's HISA deposit balances that has occurred over past 4 weeks

* Home Capital Group- facility, combined with home trust's current available liquidity, would provide home trust access to over $3.5 billion in total funding Source text for Eikon: ID:nCNWVG8yda Further company coverage: HCG.TO

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.