By Andrea Heisinger
New York, Jan. 9 - Toyota Motor Credit Corp. sold a benchmark $2 billion of notes (Aa3/AA-/) in two tranches on Monday, a syndicate source said.
The $1 billion of 2.05% five-year debt priced at 99.835 to yield 2.085% with a spread of Treasuries plus 125 basis points.
There was also a $1 billion tranche of 3.3% 10-year bonds sold at 99.629 to yield 3.344% with a spread of 140 bps over Treasuries.
Bookrunners were Citigroup Global Markets Inc., Bank of America Merrill Lynch, RBC Capital Markets LLC and UBS Securities LLC.
The U.S. financing arm of Toyota is based in Torrance, Calif.
| Issuer: | Toyota Motor Credit Corp.
|
| Issue: | Notes
|
| Amount: | $2 billion
|
| Bookrunners: | Citigroup Global Markets Inc., Bank of America Merrill Lynch, RBC Capital Markets LLC, UBS Securities LLC
|
| Distribution: | Off shelf
|
| Trade date: | Jan. 9
|
| Settlement date: | Jan. 12
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA-
|
|
|
| Five-year notes
|
| Amount: | $1 billion
|
| Maturity: | Jan. 12, 2017
|
| Coupon: | 2.05%
|
| Price: | 99.835
|
| Yield: | 2.085%
|
| Spread: | Treasuries plus 125 bps
|
| Call: | Non-callable
|
|
|
| 10-year bonds
|
| Amount: | $1 billion
|
| Maturity: | Jan. 12, 2022
|
| Coupon: | 3.3%
|
| Price: | 99.629
|
| Yield: | 3.344%
|
| Spread: | Treasuries plus 140 bps
|
| Call: | Non-callable
|
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