Ally Financial talks $500 million five-year bullets with 5% yield; pricing expected Wednesday

By Paul A. Harris

Portland, Ore., Sept. 4 - Ally Financial Inc. is talking a $500 million offering of non-callable five-year senior guaranteed notes (existing ratings B1/B+) with a 5% yield, according to a market source.

The deal is set to price Wednesday.

BofA Merrill Lynch, Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and RBC Capital Markets are the joint bookrunners for the public offering, which is being run on the investment-grade desk.

The financial services company plans to use the proceeds to repay debt.

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