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.
Contact:
Gina Proia
646-781-2692
gina.proia@ally.com
SOURCE Ally Financial