Cabela’s closes funding facility with Royal Bank of Canada
Sidney, Neb. — Cabela’s Inc. has renewed a variable funding facility with Royal Bank of Canada for an additional three years and the commitment under the variable funding facility has increased from $350 million to $500 million. The variable funding facility relates to an outstanding series of variable funding notes issued by Cabela’s Credit Card Master Note Trust.
The securitization transaction and the variable funding facility will help finance the growth of Royal Bank of Canada’s credit card portfolio. Cabela’s Credit Card Master Note Trust has also completed the sale of $300 million of asset-backed notes, Series 2014-I.
“We are very proud to announce the completion of our first publicly offered term securitization,” said Tommy Millner, Cabela’s CEO. “Series 2014-I was well received by the market, and we are very pleased with both the pricing and execution of the transaction. The strong investor demand for the transaction is a testament to the Cabela’s brand and demonstrates the continued quality and strength of the Cabela’s Club Visa portfolio. The issuance of our first public transaction is a huge milestone for our securitization program, and we are excited about the future. In addition to the closing of the term securitization, we have renewed a variable funding facility with Royal Bank of Canada and upsized the commitment from $350 million to $500 million to provide continued liquidity for our Cabela’s Club Visa program.”
Quantum Retail names new CFO
Minneapolis – Kevin Davidson has joined merchandising intelligence solutions provider Quantum Retail Technology Inc. as its CFO. Davidson brings more than 20 years of financial management and corporate development experience to Quantum and will report to CEO Steve Buege.
Davidson joins Quantum after serving as CEO of Critical Perfusion from 2012 to 2014. Previously he held C-level positions with BioDrain Medical Inc., OrthoRehab Inc., and was a managing director at Arthur Andersen LLP.
"Kevin’s track record as a CFO for several high growth companies combined with his hands on business experience made him an ideal candidate to step into this important role as we plan for Quantum’s next stage of growth," said Steve Buege, CEO of Quantum Retail. "We were excited to find a seasoned professional who has experience in helping to scale fast-growing companies such as ours."
New Office Depot hire to shape strategy
Juliet Johansson, a former executive with a dental implant manufacturer, is Office Depot’s new EVP and chief strategy officer.
Johansson most recently served as SVP of dental implant manufacturer Biomet 3i’s global commercial business for a little over a year. Prior to that, she spent two years with The Blackstone Group where Biomet 3i was one of the company’s she advised. She also spent five years with Ryder Systems in senior roles responsible for strategy, national sales and marketing and prior to that she was with McKinsey & Company. During her tenure at McKinsey, Johansson advised C-level in executives in the retail, consumer products, fast food and high technology sectors as a co-leader of the consulting firms sales and marketing practice.
In her new role at Office Depot, formed from the recent merger of Office Depot and OfficeMax, Johansson will report to Office Depot chairman and CEO Roland Smith and serve on the company’s executive committee.
"Juliet brings the ideal mix of advisory talent and practical experience necessary to lead our efforts to define and develop key strategic initiatives," Smith said. "Her proven track record of developing and implementing strategy in diverse business environments gives me great confidence that she will be instrumental in our work to identify exciting new growth opportunities."
Johansson said she was excited to be joining Office Depot at a pivotal time in the company’s history looked forward to defining the strategies that will drive the business forward.
“It’s clear that the management team is committed to identifying and implementing product, service and solutions initiatives that will drive top-line growth,” Johansson said.
She earned a B.A. in economics from Duke University and an MBA from the University of Chicago Graduate School of Business.