Ally Financial this afternoon completed an offering of senior notes via bookrunners Bank of America, Citi, Deutsche Bank, and RBC, according to sources. Terms on the B+/B1 transaction were inked tight to talk. Proceeds from the SEC-registered deal will be used to repay debt, including various Smart Notes and Baby Bonds of the company, formerly GMAC. There was $9.9 billion of outstanding debt as of June 30, with maturities ranging from this past July and December 2044, filings show. Terms:
| Issuer | Ally Financial | |
| Ratings | B+/B1/BB- | |
| Amount | $750 million | |
| Issue | senior notes (SEC registered) | |
| Coupon | 4.75% | |
| Price | 99.12 | |
| Yield | 4.95% | |
| Spread | T+321 | |
| FRN eq. | L+306 | |
| Maturity | Sept. 10, 2018 | |
| Call | nc-life | |
| Trade | Sept. 4, 2013 | |
| Settle | Sept. 9, 2013 (t+3) | |
| Books | BAML/CITI/DB/RBC | |
| Px talk | 5% area | |