TORONTO, Aug. 17, 2017 /CNW/ - Home Capital Group Inc. ("Home Capital" or "the Company") (TSX: HCG) today announced that it completed the final tranche of an arrangement to sell certain commercial mortgage assets as previously announced. To date, the Company has received an aggregate amount of approximately $1.2 billion on the sale and discharges of commercial mortgages in connection with its initiatives to increase liquidity.
As of August 16, 2017, the Company's aggregate available liquidity and credit capacity stood at approximately $4.22 billion including an undrawn amount of $2 billion under the Company's credit facility agreement with Berkshire Hathaway.
Caution Regarding Forward-looking Statements
This press release contains forward-looking information within the meaning of applicable Canadian securities legislation. Please refer to 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: Investors: Laura Lepore, Assistant Vice President, Investor Relations, (416) 933-5652, [email protected]; Media: Boyd Erman, Longview Communications Inc., (416) 649-8007, [email protected]; Or Peter Block, Longview Communications Inc., (416) 649-8008, [email protected]