Ally Financial has completed the refinancing of its credit facility worth $15 billion. The refinancing has been closed at both the parent company and at its banking subsidiary, Ally Bank, with a syndicate of 21 lenders.
The firm will use the secured facilities to fund retail, lease and dealer floor plan automotive assets in the U.S. and Canada. The $15 billion funding capacity includes two $7.5 billion facilities. Each credit line will have half the capacity maturing in two years and the other half maturing in 364 days.
Click here for the release from PR Newswire.