Home Capital secures cheaper credit line from two Canadian banks

TORONTO - Home Capital Group Inc. has secured a $500-million standby credit line from two unnamed Canadian banks to replace its more costly emergency funding facility from Warren Buffett's Berkshire Hathaway Inc.

The Toronto-based alternative mortgage lender says its subsidiary Home Trust Company has inked a letter of commitment from two Canadian Schedule 1 banks for the two-year secured line of credit facility.

See Full Article


Latest Economic News

  • Paying down debt should be priority for low income workers, say experts

    Economic CTV News
    TORONTO -- Investment planning can often be seen as a luxury for the financially stable but advisers say that it's especially important for those who are starting out in their careers or are struggling with debt. Source
  • China grants Ivanka Trump 5 trademarks amid trade talks

    Economic CTV News
    SHANGHAI -- The Chinese government has granted Ivanka Trump's company preliminary approval for another five trademarks this month, as her father's administration pushes ahead on trade negotiations with China. Four trademarks, including child care centres, sunglasses and wedding dresses, were approved on Sunday. Source
  • Ex-Nissan chairman Ghosn asks for bail, promises not to flee

    Economic CTV News
    TOKYO -- Nissan's former Chairman Carlos Ghosn is promising to wear an electronic monitoring ankle bracelet, give up his passport and pay for security guards approved by prosecutors to gain release from detention on bail. Source
  • Asian markets advance on optimism over China-U.S. trade

    Economic CTV News
    BANGKOK -- Shares in Asia rose Monday, extending gains on Wall Street last week. Buying enthusiasm has been spurred by renewed hopes for progress on resolving the trade standoff between the U.S. and China. Shares rose in Shanghai and Hong Kong early Monday despite news that China's economy grew at its lowest pace in three decades last year. Source
  • China's 2018 economic growth edges down amid trade war

    Economic CTV News
    BEIJING -- China's 2018 economic growth decelerated to 6.6 per cent after activity in the final quarter of the year declined amid a tariff battle with Washington. Data announced Monday showed economic growth cooled to a post-global crisis quarterly low of 6.4 per cent in the three months ending in December from the previous quarter's 6.5 per cent. Source
  • China's economic growth sinks to 3-decade low in 2018

    Economic CTV News
    BEIJING -- China's economic growth fell to a three-decade low in 2018 as business activity lagged amid a tariff war with Washington. The world's second-largest economy expanded by 6.6 per cent over a year earlier, down from 2017's 6.9 per cent, official data showed Monday. Source
  • TD Bank should have seen 'red flags' as senior lost $732K in romance scam, son says

    Economic CBC News
    The son of an Ontario senior who drained his entire life savings and then went deep into debt says TD Bank didn't do enough to prevent his father from being victimized — over and over — in a romance scam. Source
  • Lawsuit accuses Syncrude of wrongfully firing firefighter with PTSD

    Economic CTV News
    CALGARY -- A lawsuit filed by a former firefighter and paramedic against Syncrude Canada claims the oilsands giant wrongfully denied him benefits and fired him after he was diagnosed with post-traumatic stress disorder related to his job. Source
  • For the love of eel: N.L. company developing new product for international market

    Economic CBC News
    For years North Atlantic Aquaponics has been shipping live eels to markets in Korea and Ontario, but now they're working to take their products to a tasty new level. The company, which started on the west coast community of Robinsons, is collaborating with the Functional Foods Laboratory at MUN's Grenfell Campus in Corner Brook to test and develop a new recipe for kabayaki eel. Source
  • With Trump out, Davos chief eyes fixing world architecture

    Economic CTV News
    DAVOS, Switzerland -- The founder of the World Economic Forum says U.S. President Donald Trump would have been an "interesting discussion partner" at its annual Davos event starting this week, but acknowledges that the partial U.S. Source