Published on 9/28/2020 in the Prospect News Investment Grade Daily.
New Issue: Toyota Motor Credit prices $1.14 billion of one-year notes at Libor plus 6 bps
By Cristal Cody
Tupelo, Miss., Sept. 28 – Toyota Motor Credit Corp. priced $1,135,000,000 of floating-rate medium-term notes due Oct. 1, 2021 (A1/A+/A+) on Monday at par to yield Libor plus 6 basis points, according to an FWP filing with the Securities and Exchange Commission.
BofA Securities, Inc. was the bookrunner.
Toyota Motor Credit is a Torrance, Calif.-based financing arm and subsidiary of Toyota Motor Corp.
| Issuer: | Toyota Motor Credit Corp.
|
| Amount: | $1,135,000,000
|
| Maturity: | Oct. 1, 2021
|
| Description: | Series B floating-rate medium-term notes
|
| Bookrunner: | BofA Securities, Inc.
|
| Coupon: | Libor plus 6 bps
|
| Price: | Par
|
| Yield: | Libor plus 6 bps
|
| Call feature: | None
|
| Trade date: | Sept. 28
|
| Settlement date: | Oct. 1
|
| Ratings: | Moody’s: A1
|
| S&P: A+
|
| Fitch: A+
|
| Distribution: | SEC registered
|
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