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Simpson Thacher recently represented the lenders in connection with the refinancing of $15.0 billion of asset backed credit facilities for Ally Financial Inc. and its subsidiary bank, Ally Bank. Ally Financial and one of its Canadian subsidiaries can finance up to $7.5 billion of auto loans, auto leases and dealer floorplan loans originated in the United States and Canada under one of the facilities, and Ally Bank can finance up to $7.5 billion of auto loans, auto leases and dealer floorplan loans originated in the United States under the other facility.  Half of the commitments under each facility have a 364-day term and the other half a two-year term.  Ally Financial is one of the world's largest automotive financial services companies.
 
 The Simpson Thacher team included Laura Palma, John Schueller, Ursula Mackey, Viktor Sapezhnikov, Kuang-Wei Chueh and Karen Wang (Corporate). Paralegals Nicole Annunziato and Alexandra McNicholas also provided valuable assistance.