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BRIEF-Home Capital fully repays $2 bln Berkshire Hathaway backed credit facility; completes commercial mortgage asset sale

Published 2017-07-25, 05:51 p/m
© Reuters.  BRIEF-Home Capital fully repays $2 bln Berkshire Hathaway backed credit facility; completes commercial mortgage asset sale
BRKa
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HCG
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July 25 (Reuters) - Home Capital Group Inc HCG.TO

* Home Capital fully repays $2 billion Berkshire Hathaway (NYSE:BRKa) backed credit facility; completes commercial mortgage asset sale

* Home Capital Group Inc - full repayment of berkshire backstop credit facility significantly reduces interest expense for company going forward

* Home Capital Group Inc - co received proceeds of about $662 million from previously announced arrangement to sell certain commercial mortgage assets

* Says as of July 25, 2017, company's aggregate available liquidity and credit capacity stood at approximately $3.59 billion

* Home Capital Group Inc - will continue to pay stand by fee of 1% on undrawn funds until Berkshire facility matures one year from initial funding date

* Home Capital Group - received about $1.13 billion on sale,discharges of commercial mortgages in connection with initiatives to increase liquidity

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