By Cristal Cody
Tupelo, Miss., April 6 – Ally Financial Inc. priced $750 million of 5.8% five-year senior notes (Ba1/BBB-/BBB-) on Monday at a spread of Treasuries plus 562.5 basis points, according to a market source.
Initial guidance was in the Treasuries plus 600 bps area.
Citigroup Global Markets Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and RBC Capital Markets Corp. were the bookrunners.
Proceeds will be used for general corporate purposes.
Ally is a financial services company based in Detroit.
| Issuer: | Ally Financial Inc.
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| Amount: | $750 million
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| Description: | Senior notes
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| Maturity: | May 1, 2025
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| Bookrunners: | Citigroup Global Markets Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and RBC Capital Markets Corp.
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| Coupon: | 5.8%
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| Spread: | Treasuries plus 562.5 bps
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| Trade date: | April 6
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| Ratings: | Moody’s: Ba1
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| S&P: BBB-
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| Fitch: BBB-
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| Distribution: | SEC registered
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| Price guidance: | Treasuries plus 600 bps area
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