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Ally Releases Early Results of Tender Offers

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Ally Financial Inc. announced early results of its previously announced modified “Dutch Auction” cash tender offers to purchase a portion of its outstanding (i) 2020, 2030 and 2031 Notes.

For the company’s 8 percent 2020 Senior Guaranteed Notes, the company has an outstanding principal amount of $1.59 billion, has tendered $1.28 billion. For 7.5 percent 2020 notes, the company holds an outstanding principal amount of $1.45 billion, tendering $1.21 billion and accepting $552 billion.

The company has tendered $338.75 billion for 2031 8 percent notes, accepting $150 billion.

Ally began the auction on Feb. 10 in accordance with the terms and conditions described in an offer to purchase, dated Feb. 10.

Ally also increased the maximum aggregate principal amount of the 2020 Offer from $750 million to $800 million. All other terms and conditions of the Tender Offers described in the Offer Documents remain unchanged.

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