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Home Capital Group Inc (HCG.TO)

HCG.TO on Toronto Stock Exchange

13.24CAD
18 Aug 2017
Change (% chg)

$0.12 (+0.91%)
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Latest Key Developments (Source: Significant Developments)

Home Capital closes final tranche of commercial mortgage asset sale
Thursday, 17 Aug 2017 05:00pm EDT 

Aug 17 (Reuters) - Home Capital Group Inc -:Home Capital closes final tranche of commercial mortgage asset sale.Home Capital-‍to date, co received about $1.2 billion on sale & discharges of commercial mortgages in connection with its initiatives to increase liquidity​.Home Capital Group Inc - ‍as of August 16, 2017, company's aggregate available liquidity and credit capacity stood at approximately $4.22 billion​.  Full Article

Home Capital provides update on agreements to settle OSC and class action matters
Wednesday, 9 Aug 2017 02:05pm EDT 

Aug 9 (Reuters) - Home Capital Group Inc : :Home Capital provides update on agreements to settle OSC and class action matters.Home Capital Group- ‍Ontario Securities Commission issued order approving previously announced settlement of enforcement proceeding commenced in April.Home Capital Group - ‍Order regarding settlement of enforcement proceeding commenced in April 2017 regarding company's disclosure in 2014 and 2015​.  Full Article

Home Capital fully repays $2 bln Berkshire Hathaway backed credit facility; completes commercial mortgage asset sale
Tuesday, 25 Jul 2017 05:05pm EDT 

July 25 (Reuters) - Home Capital Group Inc :Home Capital fully repays $2 billion Berkshire Hathaway backed credit facility; completes commercial mortgage asset sale.Home Capital Group Inc - full repayment of berkshire backstop credit facility significantly reduces interest expense for company going forward.Home Capital Group Inc - co received proceeds of about $662 million from previously announced arrangement to sell certain commercial mortgage assets​.Says ‍as of July 25, 2017, company's aggregate available liquidity and credit capacity stood at approximately $3.59 billion​.Home Capital Group Inc - will continue to pay stand by fee of 1% on undrawn funds until Berkshire facility matures one year from initial funding date.Home Capital Group - ‍received about $1.13 billion on sale,discharges of commercial mortgages in connection with initiatives to increase liquidity​.  Full Article

Home Capital provides update on liquidity and deposits
Monday, 17 Jul 2017 05:00pm EDT 

July 17 (Reuters) - Home Capital Group Inc :Home Capital provides update on liquidity and deposits.Home Capital Group Inc - ‍"company's liquidity position is stable".Home Capital Group Inc - ‍aggregate available liquidity and credit capacity stood at approximately $2.57 billion as of July 14, 2017​.Home Capital Group Inc - Home Trust high interest savings account (HISA) deposit balances stood at approximately $104 million as of July 14, 2017​.Home Capital - ‍total GIC deposits, including Oaken & Broker GICS, stood at about $12.27 billion & Oaken savings accounts at about $165 million​ as of July 14.Home Capital Group Inc - ‍cash received from completion of sale of commercial mortgage assets & recent previous deals has added to liquidity position​.  Full Article

Home Capital appoints Yousry Bissada CEO
Wednesday, 12 Jul 2017 06:30am EDT 

July 12 (Reuters) - Home Capital Group Inc -:Home Capital appoints Yousry Bissada as president and CEO.Says Mr Bissada appointed to the board.Home Capital Group Inc - ‍one of bissada's first responsibilities will be to complete company's search for a new chief financial officer​.Home Capital - Bissada will be appointed to board of directors of home capital and its subsidiaries effective with his appointment as president and ceo.Home Capital-‍appointed Yousry Bissada as president and ceo of company and its subsidiaries, home trust company and home bank, effective august 3​.Home Capital Group Inc - ‍since 2011, bissada has been president and CEO of Kanetix Ltd​.Home Capital - ‍board appointed Yousry Bissada as president and CEO of company and its subsidiaries, Home Trust Company and Home Bank​.  Full Article

Home Capital announces appointments of executive vice president, strategy, chief risk officer company
Thursday, 6 Jul 2017 05:25pm EDT 

July 6 (Reuters) - Home Capital Group Inc ::Home Capital announces appointments of executive vice president, strategy, and chief risk officer; company to evaluate potential impact of OSFI B-20 revisions.Says Greg Parker appointed EVP.Home Capital - David Cluff, chief credit officer, will replace parker as executive vice president, enterprise risk management and chief risk officer.Home Capital Group Inc - ‍osfi issued on July 6 for comment revisions of guideline B-20 residential mortgage underwriting practices and procedures.Home Capital Group Inc - ‍is currently evaluating potential impact of adoption of updated guideline b-20 on company's business​.Home Capital - revisions include qualifying stress test for uninsured mortgages, prohibition on co-lending arrangements to circumvent regulatory requirements.Home capital group inc - revisions include additional guidance on use of loan to value measurements used as a risk control.  Full Article

Home Capital closes tranche of commercial mortgage asset sale
Thursday, 6 Jul 2017 05:20pm EDT 

July 6 (Reuters) - Home Capital Group Inc ::Home Capital closes tranche of commercial mortgage asset sale and announces early payout of a retail consumer loan portfolio.Home Capital Group Inc - ‍expects to receive further proceeds during Q3 as next tranche of transaction is completed​.Home Capital - received an early payout with respect to one of its retail consumer loan portfolios for a principal value of approximately $82 million.Home Capital Group - proceeds from closing of these transactions will be used to reduce amount outstanding on company's $2 billion dollar credit facility.Home Capital Group Inc - ‍amount drawn on credit facility stood at approximately $1.4 billion outstanding as of july 5, 2017​.Home Capital Group Inc - received proceeds of approximately $225 million for closing of certain commercial mortgage assets sold as previously announced​.  Full Article

Home Capital gives update on liquidity, deposits
Friday, 30 Jun 2017 04:30pm EDT 

June 30 (Reuters) - Home Capital Group Inc :Home Capital provides update on liquidity and deposits and closing of commercial mortgage sale.Home Capital - has received proceeds of approximately $129 million in connection with closing of sale of certain commercial mortgages previously announced​.Home Capital Group Inc - aggregate available liquidity and credit capacity stood at approximately $1.53 billion as of June 29.Home Capital Group Inc - ‍home trust high interest savings account (hisa) deposit balances stood at approximately $114 million as of June 29​.Home Capital Group Inc - gics in a cashable position $146 million as of June 29 versus $145 million as of June 28.Home Capital-‍total guaranteed investment certificate deposits, including oaken and broker gics, stood at approximately $12.15 billion as of June 29​.Home Capital-‍completion of commercial mortgages, recent deals, recent strength reported in deposit taking, "significantly improved" co's liquidity position​.Home Capital Group Inc - ‍will cease reporting its daily liquidity position​.Home Capital Group Inc - ‍will report next liquidity update on July 17​.  Full Article

Home Capital to sell about $252 mln of residential mortgages​
Thursday, 29 Jun 2017 04:43pm EDT 

June 29 (Reuters) - Home Capital Group Inc ::Home Capital announces closing of new C$2 billion credit facility and agreement to sell approximately $252 million of residential mortgages.Home Capital Group Inc - ‍entered into an agreement with a third party for sale of approximately $252 million of residential mortgages​.Home Capital Group Inc - "we expect enough liquidity to completely pay down credit line over coming months".Home Capital Group Inc - ‍sale of approximately $252 million of residential mortgages is expected to close and fund on June 30, 2017​.Home Capital Group Inc - new credit agreement replaces, and is on substantially same terms as, C$2 billion loan facility made as of May 1, 2017.Home Capital-‍does not currently intend to draw further on new credit, except to extent that alternative sources of liquidity on better terms are unavailable.Home Capital-expects to have enough liquidity over coming months to repay amounts outstanding under new credit agreement through other sources of funding.  Full Article

Home Capital provides update on liquidity and deposits
Thursday, 29 Jun 2017 04:30pm EDT 

June 29 (Reuters) - Home Capital Group Inc ::Home Capital provides update on liquidity and deposits.Home Capital Group Inc - GICs in a cashable position $145 million as of June 28 versus $145 million as of June 27.Home Capital Group Inc - aggregate available liquidity and credit capacity stood at approximately $1.51 billion as of June 28.Home Capital Group Inc - total guaranteed investment certificate (GIC) deposits stood at approximately $12.13 billion as of June 28.Home Capital Group Inc - home trust high interest savings account (HISA) deposit balances stood at approximately $113 million as of June 28.Home Capital Group Inc - co continues to maintain sufficient aggregate liquidity and credit capacity.  Full Article

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