TORONTO, April 26, 2016 /CNW/ - Home Capital Group Inc. ("Home Capital") (TSX: HCG) today announced its intention to redeem all $150 million aggregate principal amount of its 5.20% debentures due May 4, 2016 (the "Debentures") for cash on May 4, 2016 (the "Maturity Date"), at a redemption price per $1,000 principal amount of the Debentures equal to: (i) $1,000, plus (ii) accrued and unpaid interest of $26.00 on the principal amount of the Debentures so redeemed up to and including the Maturity Date. On the Maturity Date, Home Trust Company intends to redeem or purchase for cancellation $156,000,000 of subordinated debt held by Home Capital.
After the Maturity Date, the Debentures will cease to bear interest, cease to be outstanding and all rights with respect to such Debentures will cease, except only the right of the holders thereof to receive the Redemption Price, less any taxes required by law to be withheld or deducted. Upon surrender of any of the Debentures called for redemption in accordance herewith, such Debentures shall be paid by the Company or its agent at the Redemption Price (which includes all accrued interest up to and including the Maturity Date), less any taxes required by law to be withheld or deducted.
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 residential and non-residential mortgage lending, securitization of insured residential first 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, CFF 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: Gerald M. Soloway, CEO, or Martin Reid, President, 416-360-4663, www.homecapital.com