Ally Bank plans to issue $500 million series 2013-1 class A notes from its dealer floorplan ABS structure, Ally Master Owner Trust.
The Series 2013-1 class A notes will be divided into two tranches, which will be treated together as a single class, consisting of class A-1 floating rate asset backed notes and class A-2 fixed rate asset backed notes. Credit Suisse, JP Morgan and RBC Capital Markets have been named lead underwriters of the deal, according to deal prospectus file with the U.S. Securities and Exchange Commission.
Ally also plans to retain or privately place the $37.4 million Series 2013-1 class B, floating-rate notes; the $27.2 million, Series 2013-1 class C, floating-rate notes; the $20.4 million Series 2013-1 class D, floating-rate notes; and the $95.2 million Series 2013-1 Class E notes.
Moody's Investors Service assigned provisional ratings of ‘Aaa’ to the class A notes. The ratings agency also assigned ‘Aa2’ ratings to the class B notes, ‘Aa3’ ratings to the class C notes and ‘A2’ ratings to the class D notes.
