On Tuesday, Cabelas Inc (NYSE:CAB)’s shares declined -0.55% to $45.31.
Cabela’s Incorporated (CAB) declared that Cabela’s Credit Card Master Note Trust successfully accomplished the sale of $400 million of Asset-Backed Notes, Series 2015-II. The securitization transaction comprised of the issuance of $240 million of Class A-1 Notes, which accrue interest at a fixed rate of 2.25% per year, and $100 million of Class A-2 Notes, which accrue interest at a floating rate equal to one-month LIBOR plus 0.67% per year. The securitization transaction also comprised of the issuance of three subordinated classes of notes in the aggregate principal amount of $60 million. World’s Foremost Bank, Cabela’s wholly owned partner, purchased each of the subordinated classes of notes. Each class of notes issued in the securitization transaction has an predictable life of about five years, with a legal maturity of about eight years. This securitization transaction will assist finance the growth of World’s Foremost Bank’s credit card portfolio.
Cabela’s Incorporated, together with its auxiliaries, operates as a specialty retailer and direct marketer of hunting, fishing, camping, and related outdoor merchandise. The company operates through three segments: Retail, Direct, and Financial Services. The Retail segment sells products and services through its retail stores. The Direct segment sells products through its e-commerce Websites, such as Cabelas.com and Cabelas.ca, in addition to direct mail catalogs.
SAP SE (ADR) (NYSE:SAP)’s shares dropped -0.62% to $69.72.
WorkForce Software®, a leading cloud-based provider of enterprise workforce administration solutions, declared recently at SuccessConnect 2015 the signing of a global reseller agreement with SAP (NYSE: SAP). Through this agreement, SAP will resell three components of WorkForce Software’s cloud-based EmpCenter workforce administration suite — Time & Attendance, Advanced Planr and Absence Compliance Tracker — under the name SAP® Time and Attendance Administration by WorkForce Software.
This reseller arrangement adds a robust, cloud-based workforce administration solution to SAP’s portfolio, complementing the company’s market-leading core human resources (HR) and global payroll solutions. With the ability to automate the most complex time, scheduling and leave administration requirements, the SAP Time and Attendance Administration application streamlines compliance with wage and hour laws and leave regulations and gives employers greater visibility for planned decision-making.
SAP SE provides application and analytics software and software-related services for enterprises worldwide. The company offers solutions covering various lines of businesses, counting asset administration, commerce, finance, human resources, manufacturing, marketing, sales, service, sourcing and procurement, supply chain, and sustainability, in addition to research and development, and engineering. It provides enterprise application software to various industries, counting consumer, discrete manufacturing, energy and natural resources, financial services, public services, and services.
At the end of Tuesday’s trade, KKR & Co. L.P. (NYSE:KKR)‘s shares dipped -1.31% to $21.90.
JBF Industries Ltd. (“JBF”), a leading manufacturer of polyester value-chain products, has signed a definitive agreement with global investment firm KKR under which KKR will invest US$150 million into JBF Group, an entity that comprises JBF’s international auxiliaries.
A portion of the proceeds will be used by KKR to acquire a 20% stake in JBF, listed on the BSE Ltd. and National Stock Exchange of India. The remaining proceeds will be invested into zero-coupon convertible preference shares with 14.5% voting rights in JBF Global Pte. Limited, Singapore, an unlisted partner. KKR will primarily make its investment from the KKR Special Situations Fund II.
JBF Group manufactures polyester value-chain products ranging from polyester chips, polyester yarn and films which are used in the fast-moving consumer goods, textile and packaging industries. JBF Group is one of the leading global players in the polyester segment, with six manufacturing facilities across India, Bahrain, Belgium and the United Arab Emirates.
KKR & Co. L.P. is a private equity and real estate investment firm specializing in direct and fund of fund investments. It specializes in acquisitions, leveraged buyouts, administration buyouts, credit special situations, growth equity, mature, mezzanine, distressed, and middle market investments. The firm considers investments in all industries with a focus on technology and hardware, energy and infrastructure, real estate, services industry with a focus on business services, intelligence, industry-leading franchises and companies in natural resource, containers and packaging, agriculture, airports, ports, forestry, electric utilities, textiles, apparel and luxury goods, household durables, digital media, insurance, brokerage houses, non-durable goods distribution, supermarket retailing, grocery stores, food, beverage, and tobacco, hospitals, entertainment venues and production companies, publishing, printing services, capital goods, financial services, specialized finance, pipelines, and renewable energy.
EOG Resources Inc (NYSE:EOG), ended its Tuesday’s trading session with 0.52% gain, and closed at $80.43.
EOG Resources, Inc. (EOG) will host a conference call to talk about second quarter 2015 results on Friday, August 7, 2015 at 9 a.m. Central time (10 a.m. Eastern time). Please visit EOG’s website at www.eogresources.com to access a live webcast of the conference call. If you are unable to listen to the live webcast, a replay will be accessible following the call until Friday, August 21, 2015, and can be accessed from www.eogresources.com.
EOG Resources, Inc., together with its auxiliaries, explores for, develops, produces, and markets crude oil and natural gas. The company’s principal producing areas are located in New Mexico, North Dakota, Texas, Utah, and Wyoming in the United States; and Canada, Trinidad, the United Kingdom, and China. As of December 31, 2014, it had total estimated net proved reserves of 2,497 million barrels of oil equivalent, counting 1,140 million barrels (MMBbl) crude oil and condensate reserves; 467 MMBbl natural gas liquid reserves; and 5,343 billion cubic feet of natural gas reserves.
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