Home / Knowledge / News / Apparel/Garments / Cabela's completes sale of $400mn asset-backed notes
Cabela's completes sale of $400mn asset-backed notes
18
Jul '14
Cabela’s Incorporated announced that Cabela’s Credit Card Master Note Trust successfully completed the sale of $400 million of Asset-Backed Notes, Series 2014-II. The securitization transaction included the issuance of $340 million of Class A Notes, which accrue interest at a floating rate equal to one-month LIBOR plus 0.45% per year. The securitization transaction also included the issuance of three subordinated classes of notes in the aggregate principal amount of $60 million. 
 
World's Foremost Bank, Cabela’s wholly owned subsidiary, purchased each of the subordinated classes of notes. Each class of notes issued in the securitization transaction has an expected life of approximately five years, with a legal maturity of approximately eight years. This securitization transaction will help finance the growth of World’s Foremost Bank’s credit card portfolio.
 
“We are excited to announce the completion of our second public term securitization in 2014,” said Tommy Millner, Cabela’s Chief Executive Officer. “Series 2014-II was well received by the market, and we are very pleased with both the pricing and execution of the transaction. We were able to price the transaction at a more favorable rate than our five year term securitization completed in August 2013. The execution of this transaction demonstrates the continued quality and strength of the Cabela’s CLUB Visa portfolio.”
 
About Cabela’s Incorporated
Cabela's Incorporated, headquartered in Sidney, Nebraska, is a leading specialty retailer, and the world's largest direct marketer, of hunting, fishing, camping and related outdoor merchandise. Since the Company's founding in 1961, Cabela's has grown to become one of the most well-known outdoor recreation brands in the world, and has long been recognized as the World's Foremost Outfitter. Through Cabela's growing number of retail stores and its well-established direct business, it offers a wide and distinctive selection of high-quality outdoor products at competitive prices while providing superior customer service. Cabela's also issues the Cabela's CLUB Visa credit card, which serves as its primary customer loyalty rewards program. 
 

Cabela's Inc


Must ReadView All

UK GDP growth to stay steady but subdued: CBI

Textiles | On 8th Dec 2017

UK GDP growth to stay steady but subdued: CBI

The gross domestic product (GDP) in the United Kingdom (UK) will grow ...

Amazon launches operations in Australia

Apparel/Garments | On 8th Dec 2017

Amazon launches operations in Australia

US online retail giant Amazon recently unveiled its business in...

Courtesy: G-III Apparel

Apparel/Garments | On 8th Dec 2017

Q3 FY18 G-III Apparel sales up 16% to $1.02 billion

For the third quarter of fiscal 2018, net sales of G-III Apparel...

Interviews View All

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.2%
No
12.1%
Skip
18.7%

Total Votes: 91

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.5%
No
30.8%
Skip
7.7%

Total Votes: 91

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.8%
No
9.9%
Skip
3.3%

Total Votes: 91

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.3%
No
8.8%
Skip
9.9%

Total Votes: 91


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search