TORONTO, Dec. 10, 2013 /CNW/ - Home Trust Company, a wholly owned
subsidiary of Home Capital Group Inc. (TSX: HCG) today announced that
it has successfully closed its initial issue of institutional five-year
deposit notes in the principal amount of $300 million. The Company
expects that it will be a regular issuer of deposit notes, likely on a
semi-annual basis. The deposit notes rank equally and rateably with all
present and future unsecured and unsubordinated liabilities of the
Company and are not eligible for CDIC insurance.
The issue followed a very well attended 4-day investor roadshow. Strong investor demand was evident with a significant oversubscription
and broad distribution across 33 buyers.
"The well-received offering provides a liquid benchmark and supportive
price point, paving the way for subsequent offerings," said Gerald M.
Soloway, CEO of Home Capital and Home Trust. "We are very pleased with
the success of this issue."
About Home Capital and Home Trust
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
deposits, residential and non-residential mortgage lending,
securitization of insured residential first mortgage products, consumer
lending, Visa and payment card services. Licensed to conduct business
across Canada, Home Trust has offices in Ontario, Alberta, British
Columbia, Nova Scotia, Quebec and Manitoba.
Caution Regarding Forward-looking Statements
This press release contains forward-looking information within the
meaning of applicable Canadian securities legislation. Please refer to
the Company's 2012 Annual Report, available on the Company's website at
www.homecapital.com, and on the Canadian Securities Administrators' website at www.sedar.com, for the Company's Caution Regarding Forward-looking Statements.
SOURCE: Home Capital Group Inc.
For further information:
Gerald M. Soloway, CEO, or
Martin Reid, President