Ally Bank is planning to offer an unspecified amount of dealer floorplan-backed notes from its Ally Master Owner Trust, according to a filing with the Securities and Exchange Commission.
It will be the third securitization from the trust this year. The most recent, a $748.3 million transaction, closed April 24.
The deal will feature three senior classes of notes. Two unoffered subordinate classes will provide credit enhancement.
The trust is backed by a revolving pool of auto receivables generated under a portfolio of dealer floorplan financing agreements.
Ally Financial will service the notes. Wells Fargo Bank will be the back-servicer.