New Issue: Ally Financial prices $750 million 3.5% five-year notes at 99.095 to yield 3.7%

By Aleesia Forni

Virginia Beach, Jan. 22 - Ally Financial Inc. priced $750 million of 3.5% five-year senior guaranteed notes on Wednesday at 99.095 to yield 3.7%, according to a syndicate source and an FWP filed with the Securities and Exchange Commission.

The notes (B1/BB/BB) were sold with a spread of Treasuries plus 200.6 basis points.

Pricing was at the tight end of talk.

Barclays, Citigroup Global Markets Inc., Morgan Stanley & Co. LLC and Deutsche Bank Securities Inc. as the joint bookrunners.

The Detroit-based automotive lender plans to use the proceeds for general corporate purposes and the redemption of outstanding debt securities.

Issuer:	Ally Financial Inc.
Guarantors:	Ally US LLC, IB Finance Holding Co. LLC
Amount:	$750 million
Description:	Senior guaranteed notes
Maturity:	Jan. 27, 2019
Bookrunners:	Barclays, Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, Deutsche Bank Securities Inc.
Co-managers:	Credit Agricole Securities (USA) Inc., Lloyds Securities Inc., RBC Capital Markets, LLC, Scotia Capital (USA) Inc., U.S. Bancorp Investments, Inc., CastleOak Securities, L.P., Lebenthal & Co., LLC, Muriel Siebert & Co., Inc., The Williams Capital Group, L.P.
Bill and deliver:	Morgan Stanley & Co. LLC
Coupon:	3.5%
Price:	99.095
Yield:	3.7%
Spread:	Treasuries plus 200.6 bps
Trade date:	Jan. 22
Settlement date:	Jan. 27
Ratings:	Moody's: B1
	Standard & Poor's: BB
	Fitch: BB
Price talk:	3.75% area
Distribution:	SEC-registered

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