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 .
LOL, Im sure this will end well. almost tempted to short a couple thousand just for fun money when i hear something like that, its going to 0.
Since yesterday's close of $5.99, the following has occurred: POSITIVE: * Upgrade from Macquarie twitter dot com/amberkanwar/status/857560928451256321 * Announced binding agreement for the $2 billion credit facility http://finance.yahoo.com/news/home-capital-secures-2-billion-123700917.html NEGATIVE: * Downgrade from DBRS to BB, review negative http://www.reuters.com/article/brief-dbrs-downgrades-home-capital-group-idUSFWN1HY1BZ twitter dot com/IanVandaelle/status/857393124607479809 .
Another positive research note (from GMP) twitter dot com/AlderLaneeggs/status/857572581762715648 "substantial premium" "material upside" stock rating under review price target under review .
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." .
After the close on 27 April, "S&P Global Ratings downgraded Home Capital Thursday to junk with a B+ rating, from BBB-, the lowest level of investment grade. The senior unsecured rating on Home Trust was lowered to BB from BBB." http://business.financialpost.com/n...ohane-resigns-after-fund-backs-2-billion-loan .
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." .
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) .
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) .
GIC maturity table https://twitter dot com/Mega_Man_2/status/857619571536265216 From table 43 "interest rate sensitivity" on page 57 from 31 December 2016 financial results http://www.homecapital.com/quarterly_reports/2016/HCG Q4 2016 Report.pdf shows that approx. 2.0 billion matures between April and June, and another 3.2 billion matures between July and December. .