By Paul A. Harris
Portland, Ore., Nov. 28 - Ally Financial Inc. priced a $500 million issue of 3 1/8% three-year senior guaranteed notes (B1/B+/) at 99.445 to yield 3.3125% on Wednesday, according to market sources.
The yield printed on top of yield talk.
Barclays, Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and Goldman Sachs & Co. managed the quick-to-market deal.
Proceeds will be used for general corporate purposes, including debt repayment.
Ally is a financial services firm based in Detroit. The company provides auto financing and residential mortgages and has a banking subsidiary, Ally Bank.
| Issuer: | Ally Financial Inc.
|
| Guarantors: | Certain subsidiaries of Ally Financial Inc.
|
| Face amount: | $500 million
|
| Proceeds: | $497.23 million
|
| Maturity: | Jan. 15, 2016
|
| Securities: | Senior guaranteed notes
|
| Managers: | Barclays, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co.
|
| Coupon: | 3 1/8%
|
| Price: | 99.445
|
| Yield: | 3.3125%
|
| Spread: | 297 bps
|
| Call protection: | Non-callable
|
| Trade date: | Nov. 28
|
| Settlement date: | Dec. 3
|
| Ratings: | Moody's: B1
|
| Standard & Poor's: B+
|
| Distribution: | SEC registered
|
| Price talk: | 3.3125%
|
| Marketing: | Quick to market
|
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