Cabela's Incorporated has signed a new credit facility with a consortium of financial institutions led by U.S. Bank. The new $325 million, five-year credit facility replaces Cabela's existing $230 million, three-year agreement signed last year. Additionally, the new facility may be increased to $450 million subject to certain terms and conditions.
“This agreement is a testament to the confidence our partners have in Cabela's as we continue to expand our presence in the industry,” said Dennis Highby, President and Chief Executive Officer of Cabela's Incorporated. “The increased credit facility will provide Cabela's with additional flexibility as we continue our accelerated rollout of destination retail stores. We are extremely pleased with this show of faith from U.S. Bank and our financial partners.”
“Cabela's Inc. is a long-time valued customer of U.S. Bank in Nebraska for more than 20 years. U.S. Bank is proud to be able to provide assistance as Cabela's continues to expand their footprint of operations,” said Jerry Grundhofer, Chairman and Chief Executive Officer of U.S. Bancorp, the parent company of U.S. Bank.
