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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.