Cabela's amends credit agreement to lift revolver to $775 million

By Jennifer Chiou

New York, June 24 – Cabela's Inc. entered into an omnibus amendment on June 18 to modify its credit agreement with U.S. Bank NA as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

The amended agreement provides for a $775 million revolving credit facility with a $75 million sublimit for the issuance of letters of credit and a $30 million sublimit for swingline loans.

Previously, the agreement provided for a $415 million revolving credit facility with a $100 million sublimit for letters of credit and a $20 million sublimit for swingline loans.

The filing stated that the facility may be increased by up to $25 million, subject to certain terms and conditions.

Cabela's also extended the loan to June 18, 2019 from Nov. 2, 2016.

Proceeds will go toward the company’s general business purposes, including working capital support.

Cabela's is a Sidney, Neb.-based marketer and retailer of hunting, fishing, camping and outdoor merchandise.

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