25 Mar '14, 6pm

Toyota's 'green bond' an industry first, quickly rises to $1.75 billion

Toyota's 'green bond' an industry first, quickly rises to $1.75 billion

Toyota Financial Services (TFS) Issues Auto Industry's First-Ever Asset-Backed Green Bond Bond Proceeds to Fund Consumer Loans and Leases for Toyota's Leading Portfolio of Green Vehicles TORRANCE, Calif., (March 24, 2014) – Toyota Financial Services (TFS) issued the auto industry's first-ever Asset-Backed Green Bond in the amount of $1.75 billion. The offering was upsized from $1.25 billion to accommodate demand as institutional investors demonstrated strong interest in this inaugural clean transportation investment opportunity. The Green Bond is the newest component of TFS' broad-ranging funding program and serves to enhance Toyota's already extensive green commitment. Proceeds of the TFS Green Bond will be used to fund new retail finance contracts and lease contracts for Toyota and Lexus vehicles that meet specific criteria, including powertrain, fuel efficiency and emis...

Full article: http://green.autoblog.com/2014/03/25/toyotas-green-bond-i...

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