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.

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