Ally Financial Announces Partial Redemption of Trust Preferred Securities and Junior Debentures
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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 accru