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BRIEF-Home Capital announces non-binding agreement in principle with major institutional investor for credit line of $2 bln
April 26, 2017 / 12:07 PM / 5 months ago

BRIEF-Home Capital announces non-binding agreement in principle with major institutional investor for credit line of $2 bln

April 26 (Reuters) - Home Capital Group Inc:

* Home Capital Announces non-binding agreement in principle with major institutional investor for credit line of $2 billion

* Home Capital Group Inc - reached a non-binding agreement in principle with a major institutional investor for a credit line in amount of $2 billion

* Home Capital Group Inc- home trust would be required to pay a non-refundable commitment fee of $100 million and make an initial draw of $1 billion

* Home Capital Group Inc - terms of proposed agreement would have a material impact on earnings

* $2 billion loan facility would be secured against a portfolio of mortgages originated by home trust

* Home capital group inc - terms of proposed agreement would leave company unable to meet previously announced financial targets

* Home capital group-access to funds is intended to mitigate impact of a decline in home trust’s HISA deposit balances that has occurred over past 4 weeks

* Home Capital Group- facility, combined with home trust’s current available liquidity, would provide home trust access to over $3.5 billion in total funding Source text for Eikon: Further company coverage:

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