Ally Financial Announces Redemption of Outstanding 7.375% Notes Due 2044
DETROIT, Feb. 12, 2014 /PRNewswire/ -- Ally Financial Inc. (Ally) announced that it will exercise its right to redeem all of its 7.375% notes due Dec. 16, 2044 (NYSE: GOM) (CUSIP No. 36186C509) (the Redeemed Notes). The redemption date will be March 14, 2014. The redemption price will be 100 percent of the principal amount of the Redeemed Notes ($25 per senior note), plus accrued and unpaid interest up to, but excluding, the redemption date, of $0.450694 per note. The aggregate principal amount of Redeemed Notes currently outstanding is approximately $892.5 million.
Beneficial holders of the Redeemed Notes should direct any questions to their respective brokerage firm or financial institution which holds interests in the Redeemed Notes on their behalf.
The Bank of New York Mellon is the trustee and paying agent with respect to the Redeemed Notes.
This release is for informational purposes only and is not an offer to buy any securities of Ally.
About Ally Financial Inc.
Ally Financial Inc. is a leading automotive financial services company powered by a top direct banking franchise. Ally's automotive services business offers a full suite of financing products and services, including new and used vehicle inventory and consumer financing, leasing, inventory insurance, commercial loans and vehicle remarketing services. Ally Bank, the company's direct banking subsidiary and member FDIC, offers an array of deposit products, including certificates of deposit, savings accounts, money market accounts, IRA deposit products and interest checking. Ally's Commercial Finance unit provides financing to middle-market companies across a broad range of industries.
With approximately $151.2 billion in assets as of Dec. 31, 2013, Ally operates as a financial holding company. For more information, visit the Ally media site at http://media.ally.com or follow Ally on Twitter: @Ally.
SOURCE Ally Financial