By Cristal Cody
Tupelo, Miss., Nov. 13 - Toyota Credit Canada Inc. sold C$500 million of 2.8% five-year medium-term notes on Tuesday at 99.972 to yield 2.806% in a private placement, according to an informed source on Wednesday.
The notes (Aa3/AA-/DBRS: AA) priced at a spread of 90 basis points over the Government of Canada bond curve.
BMO Capital Markets Corp., RBC Dominion Securities Inc., CIBC World Markets Inc. and TD Securities Inc. were the lead managers.
The Markham, Ont.-based issuer is the Canadian financing arm of Toyota Motor Corp.
| Issuer: | Toyota Credit Canada Inc.
|
| Amount: | C$500 million
|
| Maturity: | Nov. 21, 2018
|
| Securities: | Medium-term notes
|
| Bookrunners: | BMO Capital Markets Corp., RBC Dominion Securities Inc., CIBC World Markets Inc., TD Securities Inc.
|
| Coupon: | 2.8%
|
| Price: | 99.972
|
| Yield: | 2.806%
|
| Spread: | 90 bps over Government of Canada bond curve
|
| Pricing date: | Nov. 12
|
| Settlement date: | Nov. 21
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA-
|
| DBRS: AA
|
| Distribution: | Canada private placement
|
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