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

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

| Jul 26, 2017, 03:25 AM IST

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:

(This story has not been edited by timesofindia.com and is auto–generated from a syndicated feed we subscribe to.)

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