New Issue: Ally Financial sells $750 million 4.75% five-year notes at 195 bps over Treasuries

By Wendy Van Sickle

Columbus, Ohio, June 6 – Ally Financial Inc. priced $750 million of 4.75% five-year senior notes (Baa3/BBB-/BBB-) on Monday at a spread of 195 basis points over Treasuries, according to an FWP filing with the Securities and Exchange Commission.

The notes priced at 98.971 to yield 4.985%.

Barclays, BofA Securities, Inc., Deutsche Bank Securities Inc. and Morgan Stanley & Co. 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
Issue:	Senior notes
Maturity:	June 9, 2027
Bookrunners:	Barclays, BofA Securities, Inc., Deutsche Bank Securities Inc. and Morgan Stanley & Co. LLC
Co-managers:	Lloyds Securities Inc., Piper Sandler & Co., Raymond James & Associates, Inc., U.S. Bancorp Investments, Inc., AmeriVet Securities, Inc., Great Pacific Securities, Loop Capital Markets LLC, Mischler Financial Group, Inc. and Samuel A. Ramirez & Co., Inc.
Counsel to issuer:	Sullivan & Cromwell LLP
Counsel to underwriters:	Orrick, Herrington & Sutcliffe LLP
Coupon:	4.75%
Price:	98.971
Yield:	4.985%
Spread:	Treasuries plus 195 bps
Call features:	Make-whole call on or after Dec. 6, 2022 and before May 10, 2027 at price equal to greater of par and Treasuries plus 30 bps; thereafter at par
Trade date:	June 6
Settlement date:	June 9
Ratings:	Moody’s: Baa3
	S&P: BBB-
	Fitch: BBB-
Distribution:	SEC registered
Cusip:	02005NBQ2

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