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Cabela’s secures second amendment to credit facility


Sidney, Neb. Cabela's said Tuesday it has completed a second change to its revolving credit facility that allows it to transfer up to $225 million of capital to its bank unit, World's Foremost Bank, in 2010.

The retailer also can now contribute $25 million in capital to the bank in any fiscal year. To secure the amendment, Cabela's paid a fee of 50 basis points of the revolving commitment amount. The credit facility expires June 30, 2012.

Cabela's announced earlier that it had decreased its revolving credit facility to $350 million, from $430 million. It believes $350 million is adequate for its needs.

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