Home Capital Completes Repayment of Deposit Notes and Provides Update on Liquidity, Deposits and Maturities
Home Capital Completes Repayment of Deposit Notes and Provides Update on Liquidity, Deposits and Maturities
Canada NewsWire
TORONTO, May 24, 2017
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 |
HISA |
Oaken Savings |
GIC |
*GICS in a cashable | |
|
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 |
Contractual Fixed Term |
|
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.
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