May 16, 2018 / 10:41 AM / 4 months ago

BRIEF-Home Capital Gets Commitments For $500 Mln Standby Secured Funding Facility

May 16 (Reuters) - Home Capital Group Inc:

* HOME CAPITAL RECEIVES COMMITMENTS FOR A $500 MILLION STANDBY SECURED FUNDING FACILITY

* SAYS CREDIT FACILITY WILL REPLACE A $2 BILLION CREDIT FACILITY PROVIDED BY A WHOLLY OWNED SUBSIDIARY OF BERKSHIRE HATHAWAY INC

* SAYS DOES NOT INTEND TO DRAW ON CREDIT FACILITY IN ORDINARY COURSE OF BUSINESS

* SAYS NEW CREDIT FACILITY IS EXPECTED TO CLOSE IMMEDIATELY AFTER MATURITY OF EXISTING CREDIT FACILITY

* SAYS OBTAINED LETTER OF COMMITMENT FOR A 2-YEAR, $500 MILLION STANDBY SECURED FUNDING FACILITY FROM TWO CANADIAN SCHEDULE 1 BANKS

* SAYS ANY DRAWS ON CREDIT FACILITY WILL BE SECURED AGAINST A PORTFOLIO OF MORTGAGES ORIGINATED BY HOME TRUST COMPANY

* SAYS UNIT OBTAINED A LETTER OF COMMITMENT FROM TWO CANADIAN SCHEDULE 1 BANKS Source text for Eikon: Further company coverage:

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