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Ally Financial announces redemption of trust preferred securities and junior debentures prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
/PRNewswire/ Ally Financial Inc. (NYSE: ALLY) announced today that GMAC Capital Trust I, a subsidiary trust of Ally (the "Trust"), is redeeming (i). ....
Ally Financial Announces Partial Redemption of Trust Preferred Securities and Junior Debentures News provided by Share this article Share this article 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, ....