Orrick Advises on Ally Financial’s $500 Million Debt Offering

1 minute read | February.15.2023

Orrick represented the underwriters in an offering by Ally Financial Inc., a leading digital financial services company, of $500 million aggregate principal amount of its 6.7% Subordinated Notes due in 2033.

Joint book-running managers included Bank of America Securities, Inc.; Goldman Sachs & Co. LLC; J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC. Lloyds Securities, Raymond James, U.S. Bancorp, Bancroft Capital, CastleOak Securities, C.L. King, Loop Capital Markets and Penserra Securities acted as co-managers. The offering closed February 13.

Orrick has served as designated underwriters’ counsel for Ally’s unsecured notes program since May 2019. Ally has offered and sold $6.25 billion aggregate principal amount of notes during that time.

The team advising the underwriters included Brett Cooper, Ken Marx, Angela Chen and Valerie Guillard.