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Ally Financial plans Monday drive-by for benchmark three-year notes
By Paul A. Harris
Portland, Ore., Dec. 2 - Ally Financial Inc. plans to price a benchmark-sized offering of non-callable three-year senior notes (B1/B+) Monday, according to a market source.
Citigroup Global Markets Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are the joint bookrunners for the public offering, which is being transacted on the investment-grade desk.
The Detroit-based automotive lender plans to use the proceeds for general corporate purposes and the redemption of outstanding debt.
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