Ally financial announces partial redemption of trust preferred securities and junior debentures

Detroit, april 22, 2021 /prnewswire/ -- ally financial inc. (nyse: ally) announced today that gmac capital trust i, a subsidiary trust of ally (the "trust"), is redeeming (i) 56,000,000 units of its 8.125% fixed rate/floating rate trust preferred securities, series 2 (cusip no. 361860208) (the "trups") (constituting approximately 53.206651% of the outstanding trups) at a par price of $25.00 per unit, plus accrued interest payable from may 15, 2021, through the redemption date (which will be based on an annual rate equal to three-month libor, to be determined as of may 13, 2021, plus 5.785%), and (ii) 1,680,000 units of its 8.125% fixed rate/floating rate common securities, series 2 (the "common securities") (constituting approximately 53.206651% of the outstanding common securities) at a par price of $25.00 per unit, plus all accrued and unpaid distributions thereon through the redemption date.
ALLY Ratings Summary
ALLY Quant Ranking