On March 30, 2011, Ally Financial Inc. completed the refinancing of US$15 billion in credit facilities at both the parent company and at its banking subsidiary, Ally Bank, with a syndicate of 21 lenders. The secured facilities can be used to fund retail, lease and dealer floorplan automotive assets in the United States and Canada.
The US$15 billion funding capacity is comprised of two US$7.5 billion facilities, one of which is available to Ally Financial Inc. and Ally Credit Canada Limited, and the other which is available to Ally Bank. Each new facility will have half the capacity maturing in two years and the other half maturing in 364 days. The two credit lines replace facilities at both Ally Financial Inc., Ally Credit Canada Limited and Ally Bank that were due to mature in the second quarter of 2011.
Further information is found on Ally Financial's website.