Cabela’s Incorporated said that JPMorgan Chase Bank, National Association has renewed its $350 million commitment under an outstanding series of variable funding notes issued by Cabela’s Credit Card Master Note Trust. The commitment is for one year.
“We are very pleased to have completed the renewal of this facility with JPMorgan Chase Bank,” said Joe Friebe, president and CEO of World’s Foremost Bank. “This will be the fifth renewal of the variable funding facility, which indicates the strength and longevity of our business relationship with JPMorgan.”
“Over the years, and particularly through the recent liquidity crisis, JPMorgan has been an important partner of World’s Foremost Bank and Cabela’s,” Friebe said. “JPMorgan was able to provide World’s Foremost Bank liquidity at favorable rates during the economic crisis, which speaks to the strength of their business and the strength of our credit card portfolio.”