July 25, 2017 / 9:55 PM / a month ago

BRIEF-Home Capital fully repays $2 bln Berkshire Hathaway backed credit facility; completes commercial mortgage asset sale

July 25 (Reuters) - Home Capital Group Inc

* Home Capital fully repays $2 billion Berkshire Hathaway backed credit facility; completes commercial mortgage asset sale

* Home Capital Group Inc - full repayment of berkshire backstop credit facility significantly reduces interest expense for company going forward

* Home Capital Group Inc - co received proceeds of about $662 million from previously announced arrangement to sell certain commercial mortgage assets​

* Says ‍as of July 25, 2017, company's aggregate available liquidity and credit capacity stood at approximately $3.59 billion​

* Home Capital Group Inc - will continue to pay stand by fee of 1% on undrawn funds until Berkshire facility matures one year from initial funding date

* Home Capital Group - ‍received about $1.13 billion on sale,discharges of commercial mortgages in connection with initiatives to increase liquidity​ Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below