Cabela’s priced $340 million of securities backed by credit card receivables issued under its Cabela’s Credit Card Master Note Trust, according to a regulatory filing.

The 2014-II series is backed by a pool of receivables that arise under the Cabela’s operated World’s Foremost Bank’s Visa accounts. 

The $340 million, floating-rate, five-year  ‘AAA’ rated notes were sold at 45 basis points over one-month Libor. Standard & Poor’s assigned preliminary ratings to the deal which will also issue $32 million of class B notes, $17 million of class C notes and $11million of class D notes as part of Series 2014-II.

The underwriters for the class A notes are Wells Fargo Securities, Bank of America Merrill Lynch, and RBC Capital Markets.

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