Ally Bank plans to issue $500 million of securities backed by receivables collected from lines of credit it makes to dealerships.

The so-called auto floorplan financing allows dealers to finance their inventory, repaying the line as the vehicles are sold.

Under Ally’s AMOT 2015-3, two series of class A notes, due May 2018 and rated ‘Aaa’ by Moody’s Investors Service are on offer.

Credit Agricole, BofA Merrill Lynch and RBC Capital Markets are the lead managers.

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