Cabela's is in the market with a $350 million credit card securitization, according to a Bloomberg report.

The deal is structured with two yet to be sized, triple-A rated tranches. It is expected to price later this week. According to the report, the Royal Bank of Canada  and Bank of America Merrill Lynch have been named joint leads on the deal. Wells Fargo Securities will act as co-manager.  

During the company's 4Q11 conference call on Feb. 16, Chris Gay, director of treasury and investor relations at the firm, said the company intended to fund its exiting $425 million credit card securitization deal that was set to mature in 2012 with a new term securitization.

The existing securitization is entirely floating rate and accrues interest at a rate of Libor plus 200 basis points and the new deal would likely be structured as a mix of fixed and floating rate obligations.

After March, Cabela's next term securitization doesn't mature until January 2015.

Gay also noted that the company's plan to fund future growth with a combination of future term securitizations and by remaining active in the certificate of deposit market throughout the year.  

Other deals in the market include Hyundai Motor Co.'s (HMC)$1 billion auto transaction under its Hyundai Auto Receivables Trust (HART) Series 2012-A.

According to a presale report from Fitch Ratings, this transaction is backed by new and used Hyundai and Kia automobile vehicle loans originated and serviced by Hyundai Capital America (HCA), which is the captive finance company of Hyundai Motor America (HCA). HCA is the primary distributor of Hyundai vehicles in the U.S. and is a majority-owned subsidiary of HMC.

Ford Credit is marketing a transaction under its Ford Credit Auto Lease Trust 2012-A (FCALT 2012-A). For ASR's story on the deal, please click here.

Aside from these two auto transactions, Orange Lake Resorts is also set to sell a $150 million timeshare offering that might price this week, according to Bloomberg.

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