1. Warren Buffett's Berkshire Hathaway Gives Embattled Canadian Lender Home Capital a $1.5 Billion Lifeline

    Warren Buffett's Berkshire Hathaway Gives Embattled Canadian Lender Home Capital a $1.5 Billion Lifeline

    (Reuters) - Home Capital Group Inc said billionaire Warren Buffett's Berkshire Hathaway Inc will provide a new C$2 billion ($1.50 billion) line of credit to its unit Home Trust Co, ending the Canadian lender's strategic review process.

    Berkshire will also indirectly buy C$400 million of Home Capital's common shares in a private placement through its unit Columbia Insurance Co, Home Capital said on Wednesday...

    Read Full Article

    Login to comment.

  1. Categories

    1. BoardProspects Features:

      BoardBlogs, BoardKnowledge, BoardMoves, BoardNews, BoardProspects Announcements, BoardProspects CEO, CEO Blog, In the News, Partner Publications, Question of The Week, Sponsored Content
  2. Quotes

    1. Home Capital's strong assets, its ability to originate and underwrite well-performing mortgages, and its leading position in a growing market sector make this a very attractive investment.
    2. This investment from Berkshire not only addresses Home Capital's near-term requirements for additional liquidity and a lower-cost credit agreement, but also facilitates what the Board feels is the best available path to long-term success.
  3. Topics Mentioned