By William Gullotti
Buffalo, N.Y., Jan. 20 – Toyota Credit Canada Inc. sold C$600 million of notes (A1/A+) in an offering broken into two parts, C$350 million due 2026 and C$250 million due 2028, according to final term sheets.
Each of the parts is issued under the €60 billion euro medium-term note program established by Toyota Credit Canada, Toyota Motor Finance (Netherlands) BV, Toyota Finance Australia Ltd. and Toyota Motor Credit Corp.
The company sold C$350 million of 4.45% three-year notes at 99.989 to yield 4.454%.
The other C$250 million tranche priced with a 4.33% coupon and a five-year tenor. The notes were sold at 99.982 to yield 4.334%.
Both series are non-callable.
CIBC World Markets Inc., RBC Dominion Securities Inc., TD Securities Inc., BMO Nesbitt Burns Inc. and Scotia Capital Inc. managed the Regulation S sale.
Listings for both series are expected on the London Exchange effective Jan. 24.
Toyota Credit Canada is a financing arm and subsidiary of Toyota Motor Corp. The parent provided credit support.
| Issuer: | Toyota Credit Canada Inc.
|
| Amount: | C$600 million
|
| Issue: | Notes
|
| Bookrunners: | CIBC World Markets Inc., RBC Dominion Securities Inc., TD Securities Inc., BMO Nesbitt Burns Inc. and Scotia Capital Inc.
|
| Pricing date: | Jan. 17
|
| Settlement date: | Jan. 24
|
| Listing date: | Jan. 24
|
| Ratings: | Moody’s: A1
|
| S&P: A+
|
| Distribution: | Regulation S
|
|
|
| 2026 notes
|
| Amount: | C$350 million
|
| Maturity: | Jan. 26, 2026
|
| Coupon: | 4.45%
|
| Price: | 99.989
|
| Yield: | 4.454%
|
| Call features: | Non-callable
|
| Cusip: | 892329BS1
|
|
|
| 2028 notes
|
| Amount: | C$250 million
|
| Maturity: | Jan. 24, 2028
|
| Coupon: | 4.33%
|
| Price: | 99.982
|
| Yield: | 4.334%
|
| Call features: | Non-callable
|
| Cusip: | 892329BQ5
|
|
|
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