Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  Cabelas Inc    CAB

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

Cabelas : Cabela’s Inc. Announces Closing of $400 Million Securitization

share with twitter share with LinkedIn share with facebook
share via e-mail
0
07/17/2014 | 10:26pm CEST

Cabela’s Incorporated (NYSE:CAB) announced today 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.”

This press release does not constitute an offer to sell or the solicitation of an offer to buy the notes and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.

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 stock is traded on the New York Stock Exchange under the symbol "CAB".

Caution Concerning Forward-Looking Statements

Statements in this press release that are not historical or current fact are "forward-looking statements" that are based on the Company's beliefs, assumptions, and expectations of future events, taking into account the information currently available to the Company. Forward-looking statements involve risks and uncertainties that may cause the Company's actual results, performance, or financial condition to differ materially from the expectations of future results, performance, or financial condition that the Company expresses or implies in any forward-looking statements. These risks and uncertainties include, but are not limited to: the state of the economy and the level of discretionary consumer spending, including changes in consumer preferences, demand for firearms and ammunition, and demographic trends; adverse changes in the capital and credit markets or the availability of capital and credit; the Company's ability to successfully execute its omni-channel strategy; increasing competition in the outdoor sporting goods industry and for credit card products and reward programs; the cost of the Company's products, including increases in fuel prices; the availability of the Company's products due to political or financial instability in countries where the goods the Company sells are manufactured; supply and delivery shortages or interruptions, and other interruptions or disruptions to the Company's systems, processes, or controls, caused by system changes or other factors; increased or adverse government regulations, including regulations relating to firearms and ammunition; the Company's ability to protect its brand, intellectual property, and reputation; the Company’s ability to prevent cybersecurity breaches and mitigate cybersecurity risks; the outcome of litigation, administrative, and/or regulatory matters (including a Commissioner's charge the Company received from the Chair of the U. S. Equal Employment Opportunity Commission in January 2011, audits by tax authorities, and compliance examinations by the Federal Deposit Insurance Corporation); the Company's ability to manage credit, liquidity, interest rate, operational, legal, regulatory capital, and compliance risks; the Company's ability to increase credit card receivables while managing credit quality; the Company's ability to securitize its credit card receivables at acceptable rates or access the deposits market at acceptable rates; the impact of legislation, regulation, and supervisory regulatory actions in the financial services industry, including the Dodd-Frank Wall Street Reform and Consumer Protection Act; and other risks, relevant factors, and uncertainties identified in the Company's filings with the SEC (including the information set forth in the "Risk Factors" section of the Company's Form 10-K for the fiscal year ended December 28, 2013, and Form 10-Q for the quarterly period ended March 29, 2014), which filings are available at the Company's website at www.cabelas.com and the SEC's website at www.sec.gov. Given the risks and uncertainties surrounding forward-looking statements, you should not place undue reliance on these statements. The Company's forward-looking statements speak only as of the date they are made. Other than as required by law, the Company undertakes no obligation to update or revise forward-looking statements, whether as a result of new information, future events, or otherwise.


© Business Wire 2014
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on CABELAS INC
10:03a AROUND THE REGION : Bryan College is Cabela's School of the Year for fishing
05/25 CABELAS : Another round of fishing fun in Dixon
05/25 CABELAS : Another round of fishing fun in Dixon
05/24 CABELAS : Delay in Cabela's sale to Bass Pro keeps Spartanburg project on hold
05/23 SHAREHOLDER ALERT : Monteverde & Associates PC Announces An Investigation Of Cab..
05/23 CABELAS : Cabela's Updates, Expands Tent Offering
05/22 CABELAS : Oak Hill team takes second place at Ohio High School Fishing Champions..
05/21 CABELAS : Morgan second, Strader seventh going into final day
05/20 CABELAS : Youth shooting sports expo Sunday
05/19 CABELAS : Cabela's to celebrate Memorial Day with Hometown Heroes event
More news
Sector news : Other Specialty Retailers - NEC
05/25 HALFORDS : sees early signs of 'staycation' benefit
05/24 FTSE edges up helped by M&S, but miners weigh
05/19 European shares claw back gains after worst week in six months
05/10 Earnings underpin FTSE, Barratt impresses but TalkTalk slumps
05/09 French outbound M&A driven to decade high by big deals
More sector news : Other Specialty Retailers - NEC
News from SeekingAlpha
05/26 RISK ARBITRAGE TODAY : Cabela's Finally Files
05/24 RISK ARBITRAGE TODAY : Why Westar Energy's Deal Is Not Dead
05/16 Uninspiring numbers from Dick's weigh on sporting goods sector
05/16 Top Merger Stocks Held By Fund Managers (Mid-Q2 2017 Edition)
05/12 Winners and losers from the retail sales report
Advertisement
Financials ($)
Sales 2017 4 117 M
EBIT 2017 329 M
Net income 2017 178 M
Finance 2017 672 M
Yield 2017 -
P/E ratio 2017 20,90
P/E ratio 2018 18,27
EV / Sales 2017 0,73x
EV / Sales 2018 0,83x
Capitalization 3 663 M
More Financials
Chart CABELAS INC
Duration : Period :
Cabelas Inc Technical Analysis Chart | CAB | US1268043015 | 4-Traders
Full-screen chart
Technical analysis trends CABELAS INC
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 11
Average target price 61,4 $
Spread / Average Target 15%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Thomas L. Millner Chief Executive Officer & Director
Scott K. Williams President
James W. Cabela Chairman
Ralph W. Castner CFO, Principal Accounting Officer & Executive VP
Douglas R. Means Chief Information Technology Officer & EVP
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
CABELAS INC-9.21%3 663
SM INVESTMENTS CORPORA..--.--%18 814
DUFRY AG30.39%9 048
NEXT PLC-12.02%8 251
MARKS AND SPENCER GROU..12.40%8 033
TRACTOR SUPPLY COMPANY-28.27%7 056
More Results