Ally plans fixed-rate UK auto ABS amid more certain future
Ally Financial is planning to include a short dated fixed rate tranche in its new UK-backed auto ABS, E-CARAT. The deal comes a week after General Motors agreed a $4.2bn takeover of Ally Financial’s European, Latin American and Chinese business operations.
The takeover negotiations dictated the timing of the deal, though the favourable spread environment also helped convince the borrower to come to market, a lead on the deal said.
Ally Financial, formerly General Motors Acceptance Corporation (GMAC), has hired Lloyds, RBC and RBS as joint leads for the
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