GMAC Capital Trust I GTD TR PFD-2
ALLY-PA
New York Stock Exchange25.24
USD
-0.07
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GMAC Capital Trust I GTD TR PFD-2
ALLY-PA
(New York Stock Exchange)
Recent
price
25.24
P/E
ratio
- -
div
yld
- -
ROIC.AI
Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- Similar Companies
- Business
- GMAC Capital Trust I operates as a special purpose subsidiary trust of Ally Financial Inc., focused on issuing trust preferred securities to support refinancing, debt repayment, and acquisition financing activities. The trust's core product consists of 8.125% Fixed Rate/Floating Rate Trust Preferred Securities, Series 2 (ticker: ALLY-PA or ALLY.PRA), which carried a fixed dividend rate of 8.125% through February 15, 2016, transitioning thereafter to a floating rate of three-month LIBOR plus 5.785%, with a par value of $25.00 per unit and CUSIP 361860208; these securities were issued on March 7, 2011, primarily targeting institutional investors in the U.S. capital markets. Headquartered in Detroit, Michigan, as part of Ally Financial's structure, the trust conducts its operations within the United States financial sector, serving capital-raising needs for its parent company's automotive finance and broader banking segments. In a series of major redemptions during 2021, GMAC Capital Trust I fully retired its outstanding Series 2 trust preferred securities, including 56 million units on May 24 at par plus accrued interest, 41.6 million units on July 2 at par plus accrued interest, and the remaining 7.65 million units on October 15 at par plus accrued interest, resulting in zero amount outstanding as of late 2021. These actions marked the complete delisting and defunct status of the ALLY-PA ticker, with no subsequent issuances or reinstatements reported. The redemptions aligned with Ally Financial's strategic capital management post its rebranding from GMAC and transition to a bank holding company, amid U.S. Treasury divestitures completed by 2014.