U.S. Bank Leads Cabela Expanded Facility
Cabela’s announced the signing of an amended credit facility with a consortium of financial institutions led by U.S. Bank. The $775 million, five-year credit facility expands and extends Cabela’s existing $415 million, five-year agreement signed in 2011. Additionally, the facility may be increased to $800 million subject to certain terms and conditions.
“This agreement is a testament to the confidence our partners have in Cabela’s,” said Tommy Millner, Cabela’s CEO. “The amended facility provides us with long-term financing flexibility as we continue to expand our retail store footprint, increase brand loyalty through the operations of Cabela’s CLUB, focus on our omni-channel strategy and increase our market share. We are extremely pleased with the support provided by our banking partners and look forward to continuing our relationship with such strong business partners.”
Sidney, NE-headquartered Cabela’s is a specialty retailer, and a direct marketer, of hunting, fishing, camping and related outdoor merchandise.