U.S. Treasury Prices About $2.7 Billion of Ally TruPS at Par

The U.S. Treasury Department today said it has priced a secondary offering at par for about $2.7 billion it holds in Ally Financial Inc. trust-preferred securities.

“Today’s transaction represents an important step toward exiting our investment in Ally,” said Tim Massad, acting assistant secretary for financial stability, in a statement in Washington. The sale is expected to close on March 7.