Ally Financial to price tap of 1.45% senior notes due October 2023

By Devika Patel

Knoxville, Tenn., Dec. 1 – Ally Financial Inc. intends to price an add-on to its 1.45% senior notes due Oct. 2, 2023, according to a 424B5 filing with the Securities and Exchange Commission.

The company previously sold $750 million of the notes at 99.374 to yield 1.662% with a spread of 150 basis points over Treasuries in a sale that priced on Sept. 16 and settled on Sept. 18.

The notes have a make-whole call at the greater of par and Treasuries plus 25 bps until Sept. 2, 2023 and then a par call.

BofA Securities Inc., Deutsche Bank Securities Inc. and Goldman Sachs & Co. LLC are the bookrunners.

Proceeds will be used for general corporate purposes.

Ally is a financial services company based in Detroit.

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