By Andrea Heisinger
New York, Sept. 8 - Toyota Motor Credit Corp. priced $2.5 billion of notes (Aa3/AA-/) in two parts on Thursday, a source away from the sale said.
Full terms were not available at press time.
The $1.5 billion of five-year notes was priced at a spread of Treasuries plus 125 basis points. The notes were priced at the low end of guidance, which was in the 130 bps area, plus or minus 5 bps.
A $1 billion tranche of 10-year notes sold at a spread of 145 bps over Treasuries. These notes were also sold at the tight end of talk in the 150 bps area, plus or minus 5 bps.
Goldman Sachs & Co. was the bookrunner.
Toyota Motor Credit last sold bonds in a $100 million sale of two-year floating-rate notes on Feb. 15.
The U.S. financing arm of Toyota Financial Services is based in Torrance, Calif.
| Issuer: | Toyota Motor Credit Corp.
|
| Issue: | Notes
|
| Amount: | $2.5 billion
|
| Bookrunner: | Goldman Sachs & Co.
|
| Trade date: | Sept. 8
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA-
|
|
|
| Five-year notes
|
| Amount: | $1.5 billion
|
| Maturity: | 2016
|
| Spread: | Treasuries plus 125 bps
|
| Price talk: | 130 bps area, plus or minus 5 bps
|
|
|
| 10-year notes
|
| Amount: | $1 billion
|
| Maturity: | 2021
|
| Spread: | Treasuries plus 145 bps
|
| Price talk: | 150 bps area, plus or minus 5 bps
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
