TORONTO, May 12, 2017 /CNW/ - Home Capital Group Inc. ("The Company"TSX: HCG) today provided an update on the Company's liquidity position.
Liquid assets stood at approximately $962 million as of end of day May 11, 2017 and combined with the undrawn amount of $600 million under the Company's $2.0 billion credit facility led by HOOPP, the Company's aggregate available liquidity and credit capacity totaled approximately $1.56 billion.
Home Trust's High Interest Savings Account (HISA) deposit balances are expected to be approximately $125 million on May 12, 2017 after the settlement of transactions that took place on May 11, 2017.
Total Guaranteed Investment Certificate (GIC) deposits, including Oaken and broker GICs, stood at $12.52 billion and Oaken savings accounts stood at $155 million as at May 10, 2017.
Home Trust's GICs and HISA deposits are eligible for Canada Deposit Insurance Corp. coverage.
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, [email protected]; or Peter Block, Longview Communications Inc., (416) 649-8008, [email protected]; Investors: Laura Lepore, Assistant Vice President, Investor Relations, (416) 933-5652, [email protected]