Home Capital is Desperate

Home Capital Group announced it has secured a $2 billion line of credit that will carry an interest rate of 10% and a 2.5% standby fee. They also announced their HISA deposits have fallen y more than $500 million in the past few weeks to $1.4 billion.

Home Capital Announces Non-Binding Agreement in Principle with Major Institutional Investor for

April 26, 2017 /CNW/ – Home Capital Group Inc. (“The Company” TSX: HCG) announces 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.