Toyota launches $1.5 billion five-year notes at Treasuries plus 65 bps

By Andrea Heisinger

New York, Oct. 2 - Toyota Motor Credit Corp. has launched a $1.5 billion offering of five-year notes on Tuesday at a spread in the Treasuries plus 65 basis points area, a syndicate source said.

The notes (Aa3/AA-/) were previously talked in the 75 bps area.

Bookrunners are Barclays, Morgan Stanley & Co. LLC, RBS Securities Inc. and UBS Securities LLC.

The funding arm of Toyota is based in Torrance, Calif.

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