Home Capital Completes Repayment of Deposit Notes and Provides Update on Liquidity, Deposits and Maturities

TORONTO, May 24, 2017 /CNW/ - Home Capital Group Inc. ("The Company" TSX: HCG) today reported it has repaid $325 million of its outstanding deposit notes due May 24, 2017.  The Company continues to maintain sufficient aggregate liquidity and credit capacity and provided an update on its current position as of May 23, 2017.

  • After the repayment of deposit notes, the Company's aggregate available liquidity and credit capacity stood at approximately $1.14 billion including the undrawn amount of $350 million under the Company's $2.0 billion credit facility.

  • Home Trust High Interest Savings Account (HISA) deposit balances stood at approximately $113 million.

  • Total Guaranteed Investment Certificate (GIC) deposits, including Oaken and broker GICS, stood at approximately $12.30 billion and Oaken savings accounts stood at approximately $145 million.

AGGREGATE LIQUIDITY AND CREDIT CAPACITY AND DEPOSIT BALANCES


Aggregate Liquidity
and Credit Capacity
(C$ Billions)

HISA
(C$ millions)

Oaken Savings
(C$ millions)

GIC
(C$ millions)

*GICS in a cashable
position

(C$ millions)

May 23

$1.14

$113.3

$145.3

$12,296.3

$145

May 22

$1.46

$115.0

$144.3

$12,332.8

$144

May 19

$1.46

$115.0

$146.1

$12,330.4

$144

May 18

$1.47

$116.2

$145.8

$12,339.7

$144

May 17

$1.47

$120.2

$145.2

$12,347.9

$146

May 16

$1.48

$116.8

$146.0

$12,363.2

$153

May 15

$1.48

$120.9

$146.1

$12,382.4

$160

May 12

$1.51

$125.4

$150.5

$12,438.3

$167

May 11

$1.56

$125.5

$153.6

$12,485.9

$198

May 10

$1.61

$129.1

$155.2

$12,517.7

$202

May 9

$1.60

$134.2

$155.4

$12,539.3

$209

May 8

$1.71

$146.9

$158.7

$12,583.3

$228

*GICS in a cashable position are included in the total GIC deposit balances reported daily.

 

The Company provided the following table with details on the upcoming non-securitized contractual mortgage maturities compared with contractual fixed term deposit maturities as of May 24, 2017.

Period

Non-Securitized Contractual
Mortgage Maturities
(C$ millions)

Contractual Fixed Term
Deposit Maturities(1)
(C$ millions)

Q2 2017

$927

$805

Q3 2017

$2,587

$1,348

Q4 2017

$2,506

$1,622

Q1 2018

$2,545

$1,581

Q2 2018

$2,189

$1,088

After Q2 2018

$4,321

$6,328


$15,076

$12,771

1.

The total contractual fixed term deposit maturities exclude the Company's outstanding credit facility balance of $1.65 billion, and HISA deposits of $113 million and Oaken Savings deposits of $145 million as of May 23, 2017.

Home Trust and Home Bank are members of CDIC.  Deposits with each are separately eligible for CDIC coverage up to applicable limits.

Caution Regarding Forward-looking Statements 
This press release contains forward-looking information within the meaning of applicable Canadian securities legislation. Please refer to the 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.

For further information: Media: Boyd Erman, Longview Communications Inc., (416) 649-8007, berman@longviewcomms.ca; or Peter Block, Longview Communications Inc., (416) 649-8008, pblock@longviewcomms.ca; Investors: Laura Lepore, Assistant Vice President, Investor Relations, (416) 933-5652, laura.lepore@hometrust.ca

RELATED LINKS
http://www.homecapital.com

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890