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DETROIT and WASHINGTON, D.C. — The U.S. Department of the Treasury is projected to pull in about $2.7 billion in aggregate proceeds generated from the sale of all its trust preferred securities in Ally Financial.

Treasury said Wednesday that it priced a secondary offering at par for the entirety of its Ally TruPs.

Officials projected the sale is likely to close Monday.

"Today's transaction represents an important step toward exiting our investment in Ally, as we continue to work to recover taxpayer dollars," Tim Massad, who is the Acting Assistant Secretary for Financial Stability, said on Wednesday.  "As the economy heals, we're continuing to replace government support with private capital in the financial markets."

As most know, Treasury pumped $17.2 billion into Ally as part of the Troubled Asset Relief Program.

Officials noted that the sale of these TruPs marks the first disposition of the department's Ally holdings.

When the $2.7 billion proceeds from the TruPs sale is considered, the return from Ally to Treasury will total about $4.9 billion. This sum includes dividends and interest totaling $2.2 billion.

Once the sale has closed, Treasury will still have mandatory convertible preferred stock in Ally totaling $5.9 billion. Moreover, Treasury will hold 74 percent of the outstanding shares of the lender's common stock.

Joint lead managers for the TruPs sale were Citigroup, Deutsche Bank, J.P. Morgan and Morgan Stanley.

Within two days of the sale finishing, results will be uploaded to department's TARP transactions report on www.fianancialstability.gov.

"This transaction marks a key step in the company's plan to repay the U.S. taxpayer in full," said Michael Carpenter, the chief executive officer of Ally.

"We are grateful for the taxpayer's investment in the company during the financial crisis, which enabled Ally to play an integral role in the U.S. auto recovery and ensure that thousands of automotive dealers and millions of consumers had access to credit.

Carpenter continued, "We are encouraged by our progress to date, and our ability to support the auto industry for the long term. We are committed to repaying the remaining investment to the U.S. taxpayer over time."