June 20 (Reuters) - Home Capital Group Inc HCG.TO :
* Home Capital announces agreement with kingsett capital to sell commercial mortgage assets valued at approximately C$1.2 billion
* Home Capital Group Inc - proceeds expected to enhance liquidity and reduce amount drawn under company's C$2 billion credit facility
* Home Capital Group Inc - initial gross proceeds to company will be 97 pct of outstanding principal value of mortgages
* Home Capital - under terms of agreement, Kingsett will purchase portfolio for 99.61 pct of outstanding principal value, less a share of future credit losses
* Home Capital Group Inc - expects to record a loss on transaction of approximately $15 million, before income taxes
* Home Capital Group - net cash proceeds to company in q3 of 2017 are expected to be approximately $1.16 billion
* Home Capital Group - transaction helps stabilize home capital's liquidity position
* Home Capital - proceeds from transaction are expected to have an immediate impact by "enabling us to enhance our liquidity and reduce outstanding debt"
* Home Capital announces agreement with Kingsett Capital to sell commercial mortgage assets valued at approximately $1.2 billion Source text for Eikon: ID:nCNWBHYm2a Further company coverage: HCG.TO