Ally Financial is marketing a $1.32 billion of bonds backed by subprime auto loans, according to a regulatory filing.

Barclays, Credit Agricole Securities and J.P. Morgan are the underwriters.

Capital Auto Receivables Asset Trust 2015-1 is only the second subprime auto loan securitization of the year, GM Financial priced the first, a $1.1 billion deal, on Wednesday. Ally’s is backed by loans on new and used cars and light trucks with a weighted average FICO score of 632.13, a weighted average loan-to-value ratio of 106.62%, weighted average interest rate of 8.26%, and a weighted average original maturity of 68.11 months.

The trust will issue eight classes of notes, four of which will initially be retained, and one class of certificates. 

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