By Sarah Lizee
Olympia, Wash., April 18 – Toyota Motor Credit Corp. priced $25 million of fixed-to-floating notes due April 26, 2021, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 3.05% initially. Beginning Oct. 26, 2018, interest will accrue at Libor plus 20 basis points. Interest is payable quarterly and cannot be less than zero.
The notes are non-callable.
Barclays is the agent.
The issuer said it may increase the principal amount prior to the settlement date, April 26, but is not required to do so.
| Issuer: | Toyota Motor Credit Corp.
|
| Issue: | Fixed-to-floating notes
|
| Amount: | $25 million
|
| Maturity: | April 26, 2021
|
| Coupon: | 3.05% initially; beginning Oct. 26, 2018, Libor plus 20 bps, floor of zero; payable quarterly
|
| Price: | Par
|
| Call option: | Non-callable
|
| Pricing date: | April 17
|
| Settlement date: | April 26
|
| Agent: | Barclays
|
| Fees: | 0.1%
|
| Cusip: | 89236TEX9
|
|
|
© 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.
