Home Trust Company announces closing of its inaugural deposit note issue
TORONTO, Dec. 10, 2013 /CNW/ - Home Trust Company, a wholly owned subsidiary of Home Capital Group Inc. (TSX: HCG) today announced that it has successfully closed its initial issue of institutional five-year deposit notes in the principal amount of $300 million. The Company expects that it will be a regular issuer of deposit notes, likely on a semi-annual basis. The deposit notes rank equally and rateably with all present and future unsecured and unsubordinated liabilities of the Company and are not eligible for CDIC insurance.
The issue followed a very well attended 4-day investor roadshow. Strong investor demand was evident with a significant oversubscription and broad distribution across 33 buyers.
"The well-received offering provides a liquid benchmark and supportive price point, paving the way for subsequent offerings," said Gerald M. Soloway, CEO of Home Capital and Home Trust. "We are very pleased with the success of this issue."
About Home Capital and Home Trust
Home Capital Group Inc. is a public company, traded on the Toronto Stock Exchange (HCG) operating through its principal subsidiary, Home Trust Company. Home Trust is a federally regulated trust company offering deposits, residential and non-residential mortgage lending, securitization of insured residential first mortgage products, consumer lending, Visa and payment card services. Licensed to conduct business across Canada, Home Trust has offices in Ontario, Alberta, British Columbia, Nova Scotia, Quebec and Manitoba.
Caution Regarding Forward-looking Statements
This press release contains forward-looking information within the meaning of applicable Canadian securities legislation. Please refer to the Company's 2012 Annual Report, available on the Company's website at www.homecapital.com, and on the Canadian Securities Administrators' website at www.sedar.com, for the Company's Caution Regarding Forward-looking Statements.
SOURCE Home Capital Group Inc.