Ally Financial priced an upsized offering of notes backed by lines of credit to auto dealers.

A $350 million senior tranche with a weighted average life of 2.96 years and triple-A ratings from Fitch Ratings and Standard & Poor’s yields 52 basis points over one-month Libor, according to a regulatory filing. The tranche, which benefits from credit enhancement of 27.5%, was upsized from $300 million originally.

Citigroup and Credit Agricole were the joint lead managers.

Fitch and S&P only rated the senior tranche of Ally Master Owner Trust Series 2013-3; the remainder of the deal is unrated.

The deal is backed by credit lines made by Ally Bank to retail automotive dealers franchised by General Motors Company, Chrysler Group LLC and other original equipment manufacturers. Dealers use this financing to purchase inventory, paying it back as they sell cars.

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