Cabela’s Inc. upsized its triple-A note offering to $327.3 million from $255 million and priced the notes on Wednesday afternoon.

Fitch Ratings and Standard & Poor’s, rated the notes issued under the private label credit card ABS Credit Card Master Note Trust, Series 2013-I. The notes priced at 75 basis points over Interpolated swaps.

World Financial Network issued the first private label credit card deal of the year during the week ending Feb. 15. The senior, five-year, fixed –rate tranche of the $500 million deal priced at 60 basis points over Interpolated Swaps.

Cabela's deal also includes ‘A+’ / ‘A’ rated class B notes, ‘BBB+’/ ‘BBB’ to the $12.7 million class C notes and ‘BB’ rating to the class D notes that were expected to be retained by the sponsor at issuance, according to the Fitch presale report. S&P did not rate the D notes.

 

 

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.