New Issue: Ally Financial prices $800 million 3.75% five-year notes at Treasuries plus 229.9 bps

By Aleesia Forni

Virginia Beach, Nov. 12 – Ally Financial Inc. priced $800 million of 3.75% five-year senior notes (B1/BB/BB+) on Wednesday at 99.1 to yield 3.95% with a spread of Treasuries plus 229.9 basis points, according to a market source.

Price talk was set in the 3.95% area, tightened from initial guidance set in the 4% area.

Barclays, Citigroup Global Markets Inc., J.P. Morgan Securities LLC and RBC Capital Markets LLC were the bookrunners.

The Detroit-based auto financing company plans to use proceeds for general corporate purposes.

Issuer:	Ally Financial Inc.
Amount:	$800 million
Description:	Senior notes
Maturity:	Nov. 18, 2019
Bookrunners:	Barclays, Citigroup Global Markets Inc., J.P. Morgan Securities LLC, RBC Capital Markets LLC
Co-managers:	Credit Agricole Securities (USA) Inc., Lloyds Securities Inc., PNC Capital Markets LLC, Scotia Capital (USA) Inc., U.S. Bancorp Investments, Inc., Cabrera Capital Markets, LLC, C.L. King & Associates, Inc., MFR Securities, Inc., Samuel A. Ramirez & Co., Inc.
Coupon:	3.75%
Price:	99.1
Yield:	3.95%
Spread:	Treasuries plus 229.9 bps
Trade date:	Nov. 12
Settlement date:	Nov. 18
Ratings:	Moody’s: B1
	Standard & Poor's: BB
	Fitch: BB+
Price talk:	3.95% area, tightened from 4% area

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