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Ally Financial Inc., the first issuer to sell a large asset-backed bond this year, is back in the securitization market with a $1.06 billion bond, according to a person familiar with the matter.

The bond, which has six tranches, is expected to price later this week. Its largest portion is valued at $320 million.

Joint leads on the deal are Citigroup, Barclays Capital and Royal Bank of Scotland.

Last month, Ally sold a $1.25 billion, which was increased from an original $500 million, and was backed by dealer inventory. The $750 million AAA-rated tranche sold at 87 basis points over interpolated swaps.

There is steady issuance this week as it is the last full week before industry participants head to Orlando for the American Securitization Forum's conference next week.

On Tuesday, Santander Drive Auto Receivables Trust tapped the asset-backed market with a $565.33 million auto-loan-backed bond. Citigroup is the lead on the deal, which has three tranches and is being sold via the private Rule 144a market.

In the meantime, General Electric Capital Corp.'s $717.28 million bond, offered via GE Equipment Small Ticket LLC, has priced, according to a person familiar with the matter.

The bond is backed by equipment loans and leases and is being sold via the private Rule 144a market. The deal is scheduled to price this week.

The largest tranche of the six-part deal is valued at $245 million and has priced at 36 basis points over Eurodollar synthetic forward, or EDSF, a benchmark, to yield 0.889%. Price guidance on this 1.25 year tranche was in the range of 35 to 40 basis points.

Joint lead managers are Barclays Capital and Bank of America Merrill Lynch.

DriveTime Auto is in the market with a $214 million bond, offered via the private Rule 144a market. Joint lead managers are UBS, Deutsche Bank and Royal Bank of Scotland.

The largest tranche of the four-part deal is $118.99 million, according to a term sheet. Price talk on this portion is in the range of 60 basis points over EDSF. Price talk on the single-A rated $42.556 million tranche is in the area of 200 to 225 basis points over EDSF.

In recent days, other asset-backed issuers include Toyota Motor Corp. (TM, 7203.TO) with a $1 billion prime retail auto loan backed bond, Ford Credit Auto Owner Trust with a $1.137 billion auto loan-backed bond and Hyundai Auto Receivables Trust with a $920.78 million auto sector bond.

-By Anusha Shrivastava, Dow Jones Newswires; 212-416-2227;

anusha.shrivastava@dowjones.com