June 29, 2017 / 8:51 PM / 22 days ago

BRIEF-Home Capital to sell about $252 mln of residential mortgages​

2 Min Read

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 Source text for Eikon: Further company coverage:

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