May 15, 2017 / 5:40 PM / 3 months ago

Home Capital may draw more from costly HOOPP loan to repay May debt

TORONTO, May 15 (Reuters) - Home Capital may need to draw down more from a high-interest credit facility provided by the Healthcare of Ontario Pension Plan in order to meet a debt repayment due next week, director Alan Hibben told Reuters.

"That is certainly one of the possibilities, yes," Hibben said. "We're looking at a wide range of alternatives but I'm not sure that any of the other alternatives are going to be in place by May 24 so it's going to be a combination, I would assume, of some of our existing liquidity plus a draw on the HOOPP (facility)." (Reporting by Matt Scuffham; Editing by Nick Zieminski)

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