New Issue: Ally Financial sells $750 million 2.2% seven-year notes at 95 bps over Treasuries

By Wendy Van Sickle

Columbus, Ohio, Oct. 26 – Ally Financial Inc. priced $750 million of 2.2% seven-year senior notes (Baa3/BBB-/BBB-) on Tuesday at a spread of Treasuries plus 95 basis points, according to an FWP filing with the Securities and Exchange Commission.

The notes priced at 98.642 to yield 2.412%.

Citigroup Global Markets Inc., J.P. Morgan Securities LLC and RBC Capital Markets LLC were the bookrunners.

Proceeds will be used for general corporate purposes.

Ally is a financial services company based in Detroit.

Issuer:	Ally Financial Inc.
Amount:	$750 million
Description:	Senior notes
Maturity:	Nov. 2, 2028
Bookrunners:	Citigroup Global Markets Inc., J.P. Morgan Securities LLC and RBC Capital Markets LLC
Co-managers:	Piper Sandler & Co., Raymond James & Associates, Inc., U.S. Bancorp Investments, Inc., CastleOak Securities, LP, Drexel Hamilton, LLC, Samuel A. Ramirez & Co., Inc., R. Seelaus & Co., LLC and Siebert Williams Shank & Co., LLC
Coupon:	2.2%
Price:	98.642
Yield:	2.412%
Spread:	Treasuries plus 95 bps
Call features:	Make-whole call on or after May 1, 2022 and before Sept. 3, 2028 at price equal to greater of par and Treasuries plus 15 bps; thereafter at par
Trade date:	Oct. 26
Settlement date:	Nov. 2
Ratings:	Moody’s: Baa3
	S&P: BBB-
	Fitch: BBB-
Distribution:	SEC registered
Cusip:	02005NBP4

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