Cabela's Inc. announces the successful renewal of variable funding facility with Bank of America

Cabela’s Incorporated (NYSE:CAB) announced Thursday that the variable funding facility with Bank of America, National Association (BANA) has been extended through March 2019.

In addition, the commitment under the variable funding facility has been increased from $300 million to $500 million. The variable funding facility relates to an outstanding series of variable funding notes issued by Cabela’s Credit Card Master Note Trust.

“I am delighted to announce the renewal of the variable funding facility with Bank of America,” said Tommy Millner, Cabela’s Chief Executive Officer.

“Over the years, Bank of America has served as a valuable business partner to Cabela’s and World’s Foremost Bank. The renewal of this facility and upsizing of the commitment from $300 million to $500 million will provide continued liquidity for our Cabela’s CLUB Visa program.”