June 15, 2017 / 1:28 PM / 5 months ago

Home Capital comments on reports on potential refinancing

(Reuters) - Canada’s biggest non-bank lender Home Capital Group Inc said on Thursday it was aware of recent media reports concerning a potential refinancing transaction and that it would not comment on speculation and rumors.

FILE PHOTO - The entry to the Home Capital Group's headquarters is seen at an office tower in the financial district of Toronto, Ontario, Canada on May 1, 2017. REUTERS/Chris Helgren/File Photo

The company’s comment was in response to a request by the Investment Industry Regulatory Organization of Canada (IIROC), following a rise in its share price on Wednesday.

Reuters reported on Wednesday, citing people with knowledge of the matter, that Home Capital is in talks with a syndicate of banks, including some of Canada’s biggest lenders, to secure a loan of about C$2 billion ($1.5 billion) to replace a costly emergency credit line it agreed in April.

Home Capital said on Thursday it would inform the market as required but does not intend to make any further comment regarding speculation.

Reporting by Ahmed Farhatha in Bengaluru; Editing by Saumyadeb Chakrabarty

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