Home Capital (HCG.TO) (HMCBF)

M

m22au

Earlier today, Home Capital announced that
"its subsidiary, Home Trust, has reached a non-binding agreement in principle with a major institutional investor for a credit line in the amount of $2 billion . It is expected that a firm commitment will be agreed to later today."
https://finance.yahoo.com/news/home-capital-announces-non-binding-114200578.html

However at the time of writing (11.50pm ET), no announcement of a firm commitment has been made.

Separate to that, on 11 April 2017 the company announced that it plans to release Q1 financial results after the close on Wednesday 3 May.
https://finance.yahoo.com/news/home-capital-group-inc-report-195300824.html

"A conference call will take place on Thursday, May 4, 2017 at 8:00 a.m. ET and is expected to last approximately 60 minutes.

"Participants are asked to dial-in approximately 10 minutes in advance of the start of the call in Toronto at 647-427-7450 or toll-free at 1-888-231-8191 throughout North America .

"The call will also be accessible in listen-only mode on Home Capital's website at www.homecapital.com in the Investor Relations section of the website."
http://www.homecapital.com/investor_relations.asp

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Another positive research note (from GMP)
twitter dot com/AlderLaneeggs/status/857572581762715648

"substantial premium"
"material upside"

stock rating under review
price target under review

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26 April announcement:
"Home Trust had liquid assets of $1.5 billion as at April 24, plus an additional portfolio of available for sale securities totaling approximately $200 million."
"HISA balances have fallen by $591 million in the period from March 28 to April 24. The total HISA balance stood at approximately $1.4 billion as at April 24. "

27 April announcement:
"Home Trust had liquid assets of $1.3 billion as at April 25, plus an additional portfolio of available for sale securities totaling approximately $200 million."
"Home Trust expects to have a HISA balance of approximately $814 million on Thursday, April 27, after settlement of Wednesday's transactions."

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27 April announcement:
"Home Trust had liquid assets of $1.3 billion as at April 25, plus an additional portfolio of available for sale securities totaling approximately $200 million."
"Home Trust expects to have a HISA balance of approximately $814 million on Thursday, April 27, after settlement of Wednesday's transactions."

28 April announcement:
"Home Capital announced today an update on High Interest Savings Accounts (HISA) withdrawals on Thursday, April 27.
"HISA withdrawals for the day were approximately $290 million as compared to $472 million on Wednesday, April 26. The balance of HISA deposits is expected to be approximately $521 million on Friday, April 28 after settlements of Thursday's transactions.

"Home Trust had liquid assets of approximately $750 million as at April 27, plus an additional portfolio of available for sale securities of $200 million.

"Home Trust has also secured a firm commitment for a $2 billion credit line, as announced Thursday."

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HISA balances:
March 28: $1.991 billion (26 April announcement)
April 24: $1.4 billion (26 April announcement)
April 27: $814 million (27 April announcement)
April 28: $521 million (28 April announcement)

Liquid assets:
April 24: $1.5 billion + $200 million (April 26 announcement)
April 25: $1.3 billion + $200 million (April 27 announcement)
April 27: $750 million + $200 million (April 28 announcement)

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GIC deposits:
March 28: $13.06 billion (26 April announcement)
April 24: $13.01 billion (26 April announcement)
April 25: $12.98 billion (27 April announcement)
April 26: $12.97 billion (28 April announcement)

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