Ally Bank is in the market with a $792.3 million transaction. Deutsche Bank Securities, JPMorgan Securities and RBS Securities are lead managing the securitization.
The transaction is backed by a pool of new and used automobile and light-truck loans originated and acquired by Ally Bank directly from dealers following agreements with GM and Chrysler dealers, and affiliated and non-affiliated GM dealers, according to a presale report from Fitch Ratings.
This is the fourth transaction issued and sponsored by Ally, formerly GMAC Bank, and is the second such deal to be rated by Fitch.
Indeed, the auto sector has seen a lot of activity. Another auto deal by Bank of America worth $1.25 million has priced. The upsized offering (from $1 billion) was lead managed by Bank of America Merrill Lynch. Co-managers on the auto ABS are Barclays Capital, Citigroup Global Markets, RBS Securities, and Credit Suisse.
Details on both transactions are available via the link below via the ASR Scorecards database.