Opérations et transactions|4 mai 2011
Home Capital Group completes C$150 million offering of debentures
Torys acted as counsel to Home Capital Group with a team that included Kevin Morris and Gabi Mandowsky, with assistance from Emily Atkinson (trust indenture), Blair Keefe (regulatory), Andrew Wong (tax) and Alison Harnick (corporate).
On May 4, 2011, Home Capital Group Inc. (TSX: HCG) completed its previously announced offering of C$150 million of debentures due 2016 (the debentures). The debentures were offered on an agency basis by a syndicate of agents led by Scotia Capital Inc. and included BMO Nesbitt Burns Inc., Desjardins Securities Inc., RBC Dominion Securities Inc. and Cormark Securities Inc.
The debentures were offered and sold at a price of 100% of their face value and will have a semi-annual cash interest coupon of 5.20%.
Home Capital intends to use C$100 million of the net proceeds to provide additional capital to Home Trust Company, a wholly-owned subsidiary of Home Capital, to meet regulatory requirements for its further growth. The balance of the net proceeds will be used for Home Capital's general corporate purposes, including possibly as additional capital for Home Trust.
Home Capital is a Canada-based holding company. The Company operates through its subsidiary, Home Trust, which offers deposits, residential and non-residential mortgage lending, consumer lending and payment card services.
Further information is found on Home Capital's website.
The debentures were offered and sold at a price of 100% of their face value and will have a semi-annual cash interest coupon of 5.20%.
Home Capital intends to use C$100 million of the net proceeds to provide additional capital to Home Trust Company, a wholly-owned subsidiary of Home Capital, to meet regulatory requirements for its further growth. The balance of the net proceeds will be used for Home Capital's general corporate purposes, including possibly as additional capital for Home Trust.
Home Capital is a Canada-based holding company. The Company operates through its subsidiary, Home Trust, which offers deposits, residential and non-residential mortgage lending, consumer lending and payment card services.
Further information is found on Home Capital's website.