Home Capital gets new funding to replace Berkshire credit line
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FILE PHOTO - The entry to the Home Capital Group's headquarters is seen at an office tower in the financial district of Toronto, Ontario, Canada on May 1, 2017. Picture taken using a wide angle lens. REUTERS/Chris Helgren/File Photo
(Reuters) - Canadian mortgage lender Home Capital Group Inc
Last year, Buffett took a 20 percent stake in Home Capital and provided a C$2 billion credit facility after investors withdrew more than 90 percent of funds from its high-interest savings accounts.
"This Credit Facility is better aligned with our current liquidity and funding profile and results in a lower aggregate cost than the existing credit facility it is replacing," Chief Financial Officer Brad Kotush said.
(Reporting by Anirban Paul in Bengaluru; Editing by Saumyadeb Chakrabarty)
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