By William Gullotti
Buffalo, N.Y., Aug. 17 – Toyota Motor Credit Corp. (A1/A+/A+) priced $1,425,000,000 of series B floating-rate medium-term notes at par, on Thursday according to an FWP filed with the Securities and Exchange Commission.
According to the filing, the principal amount may increase prior to settlement.
The notes will bear interest at SOFR plus 52 basis points, subject to a floor of 0%, with the initial rate to be calculated Aug. 18.
Interest will be paid and reset monthly.
Mizuho Securities USA LLC and SG Americas Securities, LLC are the agents.
Toyota Motor Credit is a Plano, Tex.-based financing arm and subsidiary of Toyota Motor Corp.
| Issuer: | Toyota Motor Credit Corp.
|
| Amount: | $1,425,000,000
|
| Issue: | Floating-rate medium-term notes, series B
|
| Maturity: | Aug. 22, 2024
|
| Agents: | Mizuho Securities USA LLC and SG Americas Securities, LLC
|
| Coupon: | SOFR plus 52 bps, subject to floor of 0%, reset and payable monthly
|
| Price: | Par
|
| Yield: | SOFR plus 52 bps
|
| Trade date: | Aug. 17
|
| Settlement date: | Aug. 22
|
| Cusip: | 89236TKY0
|
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